NEW DELHI: India's top software firm TCS on Monday created history by becoming the first Indian company to scale the $100 billion m-cap mark.
The IT major was listed on August 25, 2004, and if an investor had invested Rs 10,000 in TCS at that point, she would have made over Rs 1.40 lakh (ex-dividend) by now.
On Friday, the company had added over Rs 40,000 crore to its valuation and was just short of the milestone.
In a message to the shareholders, Tata Sons Chairman N Chandrasekaran said TCS is focussed on continuously creating value. "TCS will continue to do very well in coming months and quarters," he asserted.
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The leading IT outsourcer has posted better-than-expected earnings for the fourth quarter of FY18. On Thursday, TCS reported a 4.48 per cent year-on-year (yoy) rise in consolidated net profit at Rs 6,904 crore for January-March. The number topped Rs 6,812.5 crore profit estimate by analysts in an ET Now poll.
Consolidated net sales for the quarter rose 8.2 per cent to Rs 32,075 crore compared with Rs 29,642 crore in the year-ago period. The company had reported sales growth of 3.93 per cent in October-December and 4.29 per cent in July-September.
Market capitalisation of the IT giant has risen from Rs 47,232 crore to a mammoth Rs 6.78 lakh crore in 14 years of its listing - the highest among all Indian listed companies.
The stock traded with a gain of over 4 per cent on the BSE at around 10:45 am. The scrip touched its fresh 52-week high of Rs 3,557 today.
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