Tata Consultancy Services Ltd (TCS), one of India’s biggest information technology (IT) service providers, on Monday (Apr 23) created history and became the first Indian IT company to hit the $100 billion market capitalization.
The company, for the first time, crossed the Rs. 3,500 ($52.87) per share mark on Monday (Apr 23) and achieved $100 billion (Rs 6,80,912.10 crore) in market capitalisation.
Tata Consultancy Services Ltd (TCS) shares opened at Rs 3,429 on Monday (Apr 23), a 4.39% rise, that shot to Rs 3,557 at intraday on the Bombay Stock Exchange (BSE). It led to the market capitalisation of the company to Rs 6,80,912.10 crore.
The stocks of the company jumped 4.56% to Rs.3,557.90 on National Stock Exchange (NSE).
Here are 10 things to know about Tata Consultancy Services Ltd (TCS):
1. Tata Consultancy Services Limited (TCS), headquartered in Mumbai, Maharashtra, is a subsidiary of the Tata Group.
2. The company presently operates in 46 countries and has 67 subsidiaries.
3. TCS was founded in 1968 by division of Tata Sons Limited. Now, regarded as one of the most valuable IT service brands, TCS generates 70% dividends of Tata Sons.
4. TCS became a publicly listed company on Aug 25, 2004, which means it started issuing securities through an initial public offering (IPO) and started being traded on at least one stock exchange or in over-the-counter markets.
5. It was in 2005 that Tata Consultancy Services Limited (TCS) became the first Indian IT company to enter the bioinformatics market.
6. Another feather in the cap came in 2006 when TCS designed an enterprise resource planning (ERP) system for the Indian Railway Catering and Tourism Corporation Ltd (IRCTC).
7. By 2008, the company’s e-business soared as high as to generate $500 million as annual revenue.
8. TCS is not only one of the largest private sector employers in India, but it is the 4th largest employer among all listed Indian companies. The top three employers being Indian Railways, Indian Army and India Post.
9. According to company records, as of December 2016, TCS has an employee strength of 3,87,000, out of which 31% are women.
10. In 2017, Tata Consultancy Services Limited (TCS) ranked 10th on the Fortune India 500 list. Pertinently, published by Fortune magazine, this list ranks the top 500 corporations of India based on their sales and gross revenue figures.
Pic credit: Site.tcs.com
Sreya is based in Kolkata. She is a Senior Editor of Big Wire.