Mumbai-based IT major Tata Consultancy Services Ltd. (TCS) on Monday overtake Accenture Plc to become the world’s largest IT company with a market capitalisation of $169.25 billion.
While, Accenture’s market capitalisation was at $168.68 billion, according to Bloomberg data.
Now, it is also the India’s most valuable company, overtaking Reliance Industries Ltd. (RIL) after 11 months.
Before this, TCS went past Accenture twice — first in 2018, and again in October last year.
Company’s Financial
TCS has reported 7% year-on-year rise in its consolidated net profit at ₹8,701 crore for the quarter ended December, against a consolidated net profit of ₹8,118 crore in same quarter of last financial year.
Revenue for the quarter rose 5.42% YoY to ₹42,015 crore compared with ₹39,854 crore in the same quarter last year.
Impact on Stock Market
TCS’ shares closed at ₹3290.20 on the Sensex today, down 0.40% from its previous close.
The benchmark index lost 1.09% to close at 48347.59 points.
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