TCS becomes first Indian company to achieve $100 billion market value

TCS becomes first Indian firm to cross $100 bn in market cap pips Accenture

The Mumbai based-IT firm has crossed the market capitalisation of NYSE-listed fortune 500 company Accenture ($98.60 bn).

The 10% rise in the company's scrip in past two trading days helped it cross Rs 6.69 trillion ($101 billion) in market-cap at 09:55 am, the BSE data shows.

"It's a special moment, a moment we have been waiting for", Economic Times quotes Tata Group Chairman N Chandrasekaran as saying, adding that he always believed that the opportunity in tech space and TCS is very large.

Incidentally, the market capitalisation of TCS is more than two-and-a-half times that of Infosys, which is now valued at $38.7 billion.

As of 10:15 am, TCS shares traded 4.21 per cent higher at Rs 3,549.95 apiece compared to a 0.40 per cent gain in the broader Nifty.

Mossad accused of assassinating rocket scientist in Malaysia
He was a member of Hamas and supervised the group's drone program, Hamas has said. "So (Israel) think he is risky ". Mohammed Shedad, 17, a student and a relative of the victim, also blamed Mossad for the killing.

Seven Killed In Army, Boko Haram Clash
Chukwu said troops recovered Rocket Propelled Gun parts and a fully loaded FN rifle magazine of 7.62mm North Atlantic Treaty Organisation round belt.

Cliffs Inc., (NYSE: CLF)
The mining company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.13. On average, equities analysts anticipate that Cliffs Natural Resources will post $1.29 EPS for the current fiscal year.

On the BSE, TCS was the top gainer among the Sensex pack, surging 6.76%, or Rs. 215.75, to close at a new high of Rs. 3,406.40. TCS, part of salt-to-software conglomerate Tata group, reported Rs. 32,075 crore as income from operations - a rise of 8.2 per cent from a year ago. Net profit eased to 5.7% to $1.07 billion in the March quarter from $1.01 billion in the preceding three months.

TCS also announced a 1:1 bonus of shares and a dividend of Rs 29 a share, taking the total payout to shareholders at Rs 50 for the year.

TCS net profit dipped by 1.7 per cent to Rs 25,826 crore for the financial year 2017-18, while revenue rose by 4.3 per cent to Rs 1.23 lakh crore. TCS shares surged as much as 4.5 per cent to an intraday high of Rs 3,557 on Monday resulting in a market capitalisation of over Rs 6.8 lakh crore or $100 billion.

Prabhudas Lilladher said TCS is now trading at par with Accenture on the valuation front (versus 18 percent discount to Accenture trades three months ago). "We're glad to announce we're back to double digit trajectory on dollar revenue growth", Mr Gopinathan had said. Its recent deal wins have also been strong, and it appears to be transitioning to digital services well. The board recommended a 1:1 bonus share issue.

Related:

  • Colin Kaepernick decries police killings as 'lawful lynchings'

    Colin Kaepernick decries police killings as 'lawful lynchings'

    Kaepernick, a 49er from 2011-2016, joins the likes of South African president Nelson Mandela , who previously won the award. Athlete-turned-activist Colin Kaepernick has received the Ambassador of Conscience Award .
    Shania Twain apologizes for saying she would have voted for Donald Trump

    Shania Twain apologizes for saying she would have voted for Donald Trump

    On Twitter on Sunday, she said the question caught her off guard and she regrets her answer. It's anyone's guess if this apology will help her career survive this incident.
    Brandon Belt sets Major League record with epic 21-pitch at-bat

    Brandon Belt sets Major League record with epic 21-pitch at-bat

    The 21-year-old Panamanian took the loss, falling to 1-1, after yielding two runs on five hits with one walk and one strikeout. No pitcher has ever worked as hard as Jaime Barria did to retire Brandon Belt on Sunday afternoon at Angel Stadium.
  • Keys helps USA  book Czech Fed Cup final

    Keys helps USA book Czech Fed Cup final

    Madison Keys gave U.S. the third and decisive point to seal the third ever win against France in the competition. Fed Cup Captain since being named Captain in 2017, now holding a flawless 5-0 record at the post.
    'Nothing suspicious' about DJ Avicii's death, autopsies reportedly show

    'Nothing suspicious' about DJ Avicii's death, autopsies reportedly show

    It has emerged that he suffered from acute pancreatitis due in part to excessive drinking and had his gallbladder removed in 2014. In 2016, at the age of 26, Avicii announced he was retiring from live performances after a public battle with poor health.
    Britain's Got Talent 2018: who is singing priest Father Ray Kelly?

    Britain's Got Talent 2018: who is singing priest Father Ray Kelly?

    Amanda Holden described his performance as "brilliant and honest, and the whole congregation was behind you". Actor and author David Walliams described it as a "beautiful performance".
  • 3 injured as Delhi-bound flight hits turbulence, window panel comes off

    3 injured as Delhi-bound flight hits turbulence, window panel comes off

    The turbulence caused panic among passengers as an interior panel covering a window fell off due to the turbulence. NTSB investigators examine the wreckage of the engine on the Southwest Airlines plane that exploded mid flight.

    GlaxoSmithKline plc (NYSE:GSK) Weekly Ratings on April 22, 2018

    Hourglass Capital Llc increased Schlumberger Ltd (NYSE:SLB) stake by 33,515 shares to 140,024 valued at $9.44 million in 2017Q4. Ticker's shares touched $40 during the last trading session after 0.30% change.GlaxoSmithKline plc has volume of 2.92M shares.
    U.S.  police chief apologises after Starbucks arrests uproar

    U.S. police chief apologises after Starbucks arrests uproar

    Nelson told the AP he "wondered if he'd make it home alive". "Everyone is blind to it, but they know what's going on, " he said . They declined and told her they were just there for a quick meeting, they said. "And I just left it at that, " Nelson said.
  • Russian Federation  sanctions not on G7 agenda

    Russian Federation sanctions not on G7 agenda

    The meeting takes place just days after the group condemned the chemical poisoning of a Russian spy and his daughter in the U.K. Many officials point to Russia as being behind the poisoning, but Moscow has denied involvement in the attack.
    Celtics vs. Bucks: Game 4 Prediction, NBA Playoff Odds

    Celtics vs. Bucks: Game 4 Prediction, NBA Playoff Odds

    With the series now tied 2-2, they two teams head back to Boston on Tuesday where the Celtics will look to regain control. Popovich missed his second straight game after his wife, Erin, passed away Wednesday following a prolonged illness.
    Colorado woman fined $500 for free airline snack

    Colorado woman fined $500 for free airline snack

    But she was not hungry and hence she kept the fruit for the last leg of her journey back home (Denver). So, she chose to put the apple in her carry-on bag, so she could eat it later when she became hungry.

Comments

Latest news

Xiaomi Redmi S2 passes TENAA with Mi 6X design, entry-level specs
Earlier last week, XDA-developers managed to get the information from the firmware files revealing the Redmi S2 launch in China. The Mi 6X will come in three variants - 4GB RAM with 32GB storage, 6GB RAM with 64GB storage and 6GB RAM with 64GB storage.

Airlines undergo emergency inspections after woman was 'sucked from the cabin'
The engine that blew apart on Tuesday's Southwest flight would have been affected, since the company said it had 40,000 cycles. An FAA spokesman said the agency disputed that it had not agreed with European regulators on the response to the engine issue.

Police Scuffle with Anti-Fascist Protesters at Neo-Nazi Rally in Georgia
We're showing them that we don't support this. "Like we did the Italians, Germans and Japanese". In August, a white nationalist rally in Charlottesville, Virginia, devolved into violence.

People are roasting James Cameron on Twitter for criticizing the 'Avengers' franchise
Cameron is now doing the rounds to promote a new AMC miniseries, Visionaries: James Cameron's Story of Science Fiction . A movie of Avengers: Infinity War's size and unprecedented scope deserves an epic, all-encompassing marketing blitz.

Capcom Will Be Shutting Puzzle Fighter Down July 31st
I don't play many mobile games and tend to bounce around, playing one specific game for a few months before moving on to another. It's been nearly two years since the last game in the series was announced at E3 before releasing at Christmas time in 2016.

Guentzel scores four goals as Penguins eliminate Flyers
Malkin's knee injury had a ripple effect on the lineup, although the return of Patric Hornqvist somewhat softened the blow. Guentzel had the third four-goal playoff game in team history, joining Mario Lemieux in 1989 and Kevin Stevens in 1991.

India Changes Law To Allow Death Penalty In Child Rape Cases
Police said the suspect was a distant relative of the victim and had targeted the child after an argument with her mother. Her father this month died in hospital of his wounds after being assaulted by the accused legislator's brother.

Police seek attacker in hate-crime NYC subway assault
He was wearing a red hat and red shirt, both of which read "Make America Great Again", Donald Trump's famous campaign slogan. Anyone with information about the suspect is urged to call the NYPD Crime Stoppers Hotline at 1-800-577-TIPS.

A Quiet Place reclaims weekend box office crown
While this is a decent number, the film's Box Office will take a huge hit next week with the release of Avengers: Infinity War . Directed by John Krasinski , " A Quiet Place " is expected to gross about $20 million domestically today through Sunday.

Facing impeachment, CJI Dipak Misra to carry out his duties as usual
Only after gaining a two-thirds majority in both the Houses will the motion finally get passed to the President of India. Once the inquiry is complete, the committee will place the report before the house in which, the motion had originated.

President Ram Nath Kovind approves a new provision for Child rape
The new law also stipulates that in the cases of rape, investigation and trial will have to be completed within 2 months. In case of a gang-rape of a girl below 12 years, punishment will be imprisonment for rest of life or death sentence.

Headless body found is of Latvian tourist Liga Skromane
The police officials recovered the body Friday, April 20, from an isolated area at Thiruvallam area in the state capital. He told the paper: "A team of doctors including forensic surgeons will be conducting the post-mortem examination".

Abu Salem denied parole for wedding
Salem, in his application, said he has been in jail for 12 years, 3 months and 14 days, and has never been out on any leave. But, under the extradition treaty between India and Portugal, Salem can be sentenced to a maximum 25 years' imprisonment.

I have no problem with Mourinho, says Man United star Pogba
Rather than negativity, the manager was being bullish and saying that the ambition must be higher than the league cup and FA Cup . And if it is going to take a few more years yet, Pochettino might not hang around to wait for it.

Beyoncé's Second Coachella Performance Won't Be Livestreamed
It didn't take the internet long to recognize Briyonce's brilliance - the Twitter video has been viewed more than 3 million times so far.

Other news