On Wednesday, India’s largest software exporter, Tata Consultancy Services crossed $200 billion in market capitalization reportedly.
TCS – 50 Year Of Growth
Basically, these investors backed technology service providers who are growing their business further helping the digital transformation of global businesses.
So far, Reliance Industries is the most valuable Indian company with a market cap of over $205 billion.
TCS has now completed 50 years and it was listed on the stock exchanges in 2004.
In just 13.5 years, it has achieved a $100 billion market cap.
Interestingly, the next $ 100 billion took 3.5 years, or a third of the time, as per the company executive.
Focus On End-to-end Consulting
Now the service provider is positioning itself as a company that provides end-to-end consulting to implementations to global clients.
This way, the IT service provider can gain more of their wallet share and is bullish on faster growth as customers across sectors invest in technology to transform their business.
Considering its global rivals Accenture has a market cap of $216 billion, followed by IBM at $122 billion.
Other peers like Infosys is valued by investors at $99 billion.
According to TCS CEO, Rajesh Gopinathan, the (stock) market validation comes due to the resilience shown by the Tata Group company which rode multiple technology waves over the decades rather than get disrupted by them.
Further adding, “At various points in time, the market has doubted us – whether we will adapt to different shifts in technologies. Every time that myth has been broken, you have seen this movement on the markets. When automation came, there was a lot of coverage that automation is going to be the death knell of the industry. When digital came, (commentators said) digital is going to wipe us out. So, each time you’re able to demonstrate that, you know we are resilient and not just resilient, we can ride the wave rather than get disrupted,”.
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