HCL Beats Cognizant To Become 4th Biggest IT Firm In India: Who Are At Top 3?
HCL Technologies Ltd surpassed Cognizant Technology Solutions Corp to become the fourth-most valuable India-centric information technology (IT) services company on Thursday.
Cognizant’s stock closed at $73.56 on Nasdaq on Wednesday, giving the business a market valuation of $38.84 billion. HCL Technologies shares were trading at 1,061 on the Bombay Stock Exchange at 9:41 a.m. on Thursday, corresponding to a market capitalization of $39 billion.
Tata Consultancy Services Ltd, with a market capitalization of $164 billion took the first place, followed by Infosys Ltd and Wipro Ltd, which have market capitalizations of $96 billion and $46.5 billion, respectively.
Focusing To Build A Strong Leadership Team
HCL Technologies, based in Noida, reported a 2.4 per cent increase in revenue for the year ending March 31, 2021, following a 15 per cent increase in 2020. The company was able to increase its operating margin from 19.6 per cent to 21.4 per cent by 180 basis points.
Strong performance, a stable leadership team, and an acquisition-led strategy have all helped HCL shares more than double in value over the last thirty months, returning 105 per cent.
Cognizant Struggled To Build A Senior Leadership Team!
Underlining The Challenges Faced By The Chief Executive Brian Humphries
Humphries has failed to assemble a senior management team as the company continues to lose key executives. According to two executives familiar with the situation, Muthu Kumaran, a Senior Vice President and Global Delivery Head at Cognizant Digital Business, resigned last month.
This departure comes after Malcolm Frank, an Executive Vice President and President of Cognizant Digital Business leaving the company in June.