On Thursday, the last closing price of Rs 2,825 was valued for TCS at $144.73 billion (Rs 10.6 trillion), while Accenture is currently at $142.4 billion. TCS became the most valuable information technology firm globally crossing Accenture for the first time.
Tata group flagship firm Tata Consultancy Services (TCS) is now much more richly-valued with a price-to-earnings (P/E) ratio of 34x compared to Accenture’s 29x. Moreover, another IT firm, IBM’s market cap is $110.5 billion. IBM traded at a P/E of less than 14 times.
The Tata subsidiary, TCS is the second-largest Indian company by market capitalisation. In India, it is currently trading at 0.42% or Rs 13.9 up at Rs 3,317 on the NSE as compared to its previous session close of Rs 3,303.1.
TCS reported a 7.01% YoY rise in its consolidated net profit at Rs 8,701 crore for its Q3 ended December 31 driven by strong demand for its cloud services during the pandemic. The IT firm said that it was their strongest Q3 growth compared to the last nine years. The Mumbai-headquartered company had posted a consolidated net profit of Rs 8,118 crore in the same quarter of the last financial year.
Four of the top 10 valued firms added a total Rs 1,15,758.53 crore to their combined market valuation last week. Among these companies, Reliance Industries Limited, Tata Consultancy Services (TCS), Hindustan Unilever Limited and Bajaj Finance.
