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.