TCS Becomes World’s Biggest IT Company, Beats Accenture, IBM; Salary Hike For All Employees!
In a great news for India, Tata-owned IT company: TCS has now become world’s biggest IT company.
They have just beaten Accenture which was at #1 position till now, and IBM, the hundred year old IT behemoth.
What was the main reasons behind TCS’ sudden assent to the top?
Keep reading to find out more!
TCS Is Now World’s #1 IT Company: But How?
The total market capital of TCS has soared to $144.73 billion, which is the highest among all IT companies in the world.
While Accenture, which was at #1 position till now, has a market capital of $143 billion, IBM is way behind at $118 billion.
TCS was able to breach the critical $144 billion mark due to a surge in their share prices, ever since they declared their latest quarterly results due to strong performance and great demand.
On Thursday, TCS share prices went up to Rs 2,825, which is an increase of 3.19%, compared to a day before.
Besides, TCS has also declared a share buyback program worth Rs 16,000 crore, which is one of the highest in the sector. A divident of Rs 112 will be provided to all shareholders, which further boosted their investor’s confidence, and their stocks rallied.
TCS Will Provide Increments From October
As we reported yesterday, buoyed by strong demand of their IT services, and a record Rs 7475 crore profit in 90 days, TCS has announced salary increment for all 4.5 lakh employees in India and abroad, effective October.
This will help them to retain the best talent, and encourage and motivate the employees to perform even better, and set new benchmarks.
TCS has already announced that they will hire 20,000 employees this fiscal year, and around 15,000 to 16,000 freshers have already joined the company in the last few months.
Investors are now confident on this Tata-owned IT behemoth to deliver even more stunning results, as it is crowned world’s biggest IT company.
We will keep you updated, as more details come in.