TCS Takes Over Its Rival And Emerges As The Most Valuable IT Company Globally

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Leading Indian multinational information technology services company Tata Consultancy Services(TCS) headquartered in the financial capital Mumbai reached one more milestone.

In terms of market capitalisation, TCS overtook its rival Accenture and emerged as the most valuable information technology (IT) company globally.

Tata Consultancy Services(TCS)’s market cap went up to $144.73 billion, which translates to Rs 10.6 trillion after the company closed 3.19% higher on the Bombay Stock Exchange(BSE) on Thursday.

Developments like the company reporting a better performance in the second quarter than the actual expected performance and the buyback announcement made by the consulting company made a crucial role in boosting the company shares.

The key vertices of Tata Consultancy Services(TCS), BFSI, Retail & CPG reporting growth, in turn, resulted in the improvement of the firm’s performance compared to the previous quarter.

On the other hand, Accenture’s market cap is restricted to $143.4 billion, which translates to Rs 10.52 trillion on the Nasdaq stock market index.