The rise in the TCS scrip's fortune came after the it posted a rise of 4.5 per cent in its Q4 net profit.
Ten years ago, the Reliance Industries, the largest conglomerate of India, had become the first company from the country to breach United States dollars 100 billion mark. Bill Gates' Microsoft has an m-cap of $731 billion. While it had an m-cap of $25 billion in 2010, four years later, in 2014, in had grown to have a market cap of $75 billion. Currently, RIL's market cap is at $89.36 billion, reports Mint.
TCS' m-cap value matches that of other worldwide stock-market players such as Accenture, United Technologies, GlaxoSmithKline PLC, Lockheed Martin, Nike and Volkswagen AG. Motilal Oswal in a note said: The stock already trades at 19 times FY20E earnings, and continued single-digit growth rate will not make a case further expansion in valuation multiples.
Shares of TCS also surged almost 5 percent during intra-day trade on the country's equity benchmark index, Bombay Stock Exchange. TCS shares rose by 4.42 per cent to a record high of Rs 3,557 on BSE.
By definition, market capitalisation is the value of a company that is traded on the stock market, calculated by multiplying the total number of shares by the present share price. TCS has a great connect with its clients, great execution capabilities and a solid focus on future growth, said senior immigration consultant Janvi Mathur. "TCS continues to execute dependably for a company of its size", Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.
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The company's revenues in terms of dollar currency increased 3.9% to $4.97 billion in the quarter.
Rajesh Gopinathan, CEO & MD, TCS, said, "We are indeed delighted and thankful to our employees and customers who have been instrumental in achieving this milestone - what is exciting for us is the whole business 4.0 journey and the great opportunity to be a digital partner of choice to our customers in their growth and transformation journey".
TCS also announced 1:1 bonus shares of Re 1 face value to its investors at the end of the financial year 2018.
TCS's $2.25 billion deal renewal from television ratings measurement company Nielsen, which now translates into more business every year for the company than in the past, also helped it better its growth.
Mumbai-based TCS, which started trading in 2004, is a unit of Tata Group, one of India's oldest companies that now sells cars, power, tea and chemicals through its various subsidiaries.