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TCS becomes India's first 100-bln-USD company

TCS becomes India's first 100-bln-USD company

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 U.S. $100 billion milestone at Rs 6,52,082.92 crore.

"I would like to thank our shareholders for their continued support", he said. Among its peers, IBM's (International Busines Machines) market cap stands at $133.48 billion. In dollar terms, the company had its highest revenue growth in 14 quarters at 11.7 per cent. The stock is up more than 10% since the firm announced its Q4 earnings. The N Chandrasekaran-led company reported a revenue growth of 8.2 percent at Rs 32,075 crore in the 1st 3 months this year.

Reliance's market value was $88.8 billion, as of Friday's close, having slipped with the rupee depreciating roughly 40 percent against the dollar in the past decade. With new market-cap, TCS is now worth one-third of the total Budget expenditure of India - as proposed in Budget 2018-19. Therefore, Monday's $100 billion breaching was an expected event, said Suresh Avunni, a Kochi-based market analyst.

Rajesh Gopinathan, CEO and Managing Director of TCS, said employees and customers had played an instrumental role in helping the company achieve the milestone. The company brought mega deals to the table consecutively in the last four to five quarters.

TCS claims that Digital, the fuzzy umbrella term which each company uses to classify revenue generated from areas generally classified as social, mobile, analytics, cloud computing and Internet of Things, grew 43% in constant currency terms to $4.5 billion or about 24% of company's overall revenue. "TCS is aiming to become 100 per cent agile by 2020, all employees are now under training to achieve this goal", added Kumar.

The US administration's stringent regulations around H-1B visa have disturbed the Indian software industry in general. However, this is not the first or only claim to fame that the company can boast of.

He added that the "Digital era" is going to be a large opportunity for TCS. It touched a 52-week high of Rs 3,557.00 during the session.

"With its consistently superior financial performances, it is no surprise that the stock has been rewarded by the Street, particularly for its sheer consistency".

So far this year, shares of the company has risen by 26.5 per cent. While TCS holds the top spot among them, companies like Reliance Industries, HDFC Bank, ITC, HUL, HDFC, Maruti Suzuki and Infosys, among others, are also on the list.

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