TCS Becomes First $100 Billion M-Cap Company in India

TCS shares rose 2.65% on Monday to Rs3,496

"This is the start of the next big run for TCS". On this moment, Tata Sons Chairman N Chandrasekaran, in an exclusive conversation with ET NOW's Nikunj Dalmia, said "It is a special moment".

TCS, Tata Consultancy Services the countries largest exporter of the software services, has chose to create history.

Incidentally, TCS remained the top gainer among the Sensex pack for the second consecutive session.

Market Capitalization is the valuation of a company which is traded on the stock market and which is calculated by multiplying the number of shares.

TCS net profit dipped by 1.7 per cent to Rs 25,826 crore for the financial year 2017-18, while revenue rose by 4.3 per cent to Rs 1.23 lakh crore.

TCS breached the 3,500 rupee ($52.87) per share mark on Monday for the first time, reaching $100 billion in market capitalisation. "However, even with growth acceleration in FY19, we expect earnings CAGR of around 10-11%", said Credit Suisse in note dated April 19. The rupee fell further for sixth session by 4 paise today to trade at a fresh 13-month low against the U.S. dollar, hit by a resurgent dollar, firming crude prices and a more hawkish tone of the Reserve Bank.




In the market, the stock also gained on the back of a weak rupee, which on Friday depreciated to over 66 to the dollar for the first time since March a year ago and is now trading at 66.18.

Shares of the company on Monday opened at Rs 3,429, rising 4.39 per cent to touch an intra-day high of Rs 3,557 on BSE.

The rise in the TCS shares value came after IT giant posted a rise of 4.5 percent in its Q4 net profit Thursday. At 12.50 TCS shares are trading 2.95 percent higher at 3,507.00 in the BSE. The company also announced a salary hike of two to six per cent depending on the geography. In addition, the party announced a 1:1 bonus for shareholders in the third bonus share offered by the company since the listing in 2004. It has given out close to Rs 26,000 crore to the shareholders in dividends and bonuses in the year.

"With robust deal wins and green-shoots in BFSI, there is definite possibility of double-digit revenue growth".

There will also be a revenue of a double-digit growth and the support from the currency margins are also related to the same.

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