Apr 24 2018
Mumbai- Riding high on robust quarterly results and a weak rupee, IT bellwether Tata Consultancy Services (TCS) on Monday emerged as the first Indian listed technology company to cross the $100-billion mark in terms of market capitalisation (m-cap).
"It is a very proud moment for all of us", Tata Sons Chairman N Chandrasekaran said in a statement. With this, TCS has become the first Indian tech company to cross $100 billion in market capitalization. TCS shares rose today by 4 per cent to Rs 3,541, pushing the market capitalisation of India's biggest outsourcer to Rs 6,78,002 crore.
At the end of Friday's trading session the IT major commanded a m-cap which was Rs 7,917.08 crore, just short of the USA $100 billion milestone at Rs 6,52,082.92 crore.
On NSE, the stock jumped 4.56 percent to Rs 3,557.90. At present, RIL has a market cap of Rs5.94 crore, which is less than that of TCS by over Rs70,000 crore. "I would like to thank our shareholders for their continued support".
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The increase in the TCS capital came after it reported a net profit of Rs 6925 crore, a 4.5 percent increase in its net profit in the fourth quarter (January-March).
"TCS had surged by almost 7 per cent on Friday, making investors richer by over Rs 40,000 crore in a day". TCS' market value has surpassed global outsourcing and consultancy major Accenture whose market cap is $98.20 billion.
TCS's four industry verticals, including oil and gas, healthcare and life sciences, communication and media and travel and hospitality, reported double-digit growth, thereby helping the company end the year on a strong footing. In dollar terms, the company had its highest revenue growth in 14 quarters at 11.7 per cent.
The company also declared total dividend of Rs 50 per share, including Rs 29 per share final dividend and Rs 21 interim dividend for the fiscal under review (FY 2018), which translates into a record 5,000 per cent per annum. "TCS has given out close to Rs 26,000 crore to the shareholders in dividends and bonuses in the year", Desai told IANS. These new converging technologies have pushed the customers away from the labor-intensive back-office programming functions, thereby making it more challenging for TCS to run its IT business operations more effectively. TCS has a great connect with its clients, great execution capabilities and a solid focus on future growth, said senior immigration consultant Janvi Mathur.
Apr 23 2018
French Finance Minister: Macron Wants 'Full and Permanent Exemption' From Trump Tariffs
He said he and Trump "have a very special relationship because both of us are probably the maverick of the systems on both sides". He described the U.S.as "one of the last resorts" for peace and multilateralism.
Apr 23 2018
Earth Day: Let's pledge to keep our environment clean, says Mamata
Others like cricketer Harbhajan Singh and actor Dia Mirza also took to Twitter to ask their followers to reduce their plastic use. According to the Earth Day Network (EDN), the Earth Day has reached its 48th year and is celebrated every year on Arpil 22.
Apr 23 2018
Naked Gunman Kills 4 In Waffle House Shooting, Remains At Large
James Shaw, 29, is hailed as a hero for wrestling the weapon from the gunman, but he says he was "just trying to get myself out". Of the gun, he added: "I grabbed it from him and threw it over the countertop and I just took him with me out the entrance".
Apr 22 2018
Palestinians will seek United Nations probe of Gaza violence
Several regional and worldwide bodies accused the Israeli occupation forces of using lethal forces against unarmed protesters. Friday's demonstration was the fourth in as many weeks of a planned, weeks-long sit-in dubbed the Great March of Return .
Apr 22 2018
Meghan Markle was meant to be royal: Paula Patton
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Apr 21 2018
Mobile money drives financial inclusion but gender gap persists
Digital public pension payments could reduce the number of unbanked adults in Europe and Central Asia by up to 20 million. Although more people have access to banking in India now, cash is still the dominant mode of payment.
Apr 20 2018
'Homeland' Will End After Season 8, According To Claire Danes
The Homeland actress revealed that she is pregnant with her second child on Howard Stern's SiriusXM show on Wednesday. When Howard pointed out that she looked "so thin", Claire answered, "I'm seated".
Apr 19 2018
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Now, to call Fox "infotainment" is not new, nor do I think it's particularly pejorative. Trump denies any sexual relationship with Daniels.
Apr 19 2018
Tom Brady has yet to commit to playing '18 season for Pats
Bayless said he's convinced that Brady wants to play three or four more years with the Patriots , but not under Belichick . Another star Patriots player, tight end Rob Gronkowski , also hasn't indicated positively whether he'll return.
Apr 18 2018
FIFA Charges World Cup Host Russia for Fan Racism
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