TCS becomes India's first company to hit $100 billion market cap

TCS shares rose 2.65% on Monday to Rs3,496

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.

Incidentally, the market capitalisation of TCS is more than two-and-a-half times that of Infosys, which is now valued at $38.7 billion.

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.

The company's shares had surged a day after its quarterly results announcement, which reported a net profit for Q4 at Rs 6,925 crore - up 4.6 per cent - from Rs 6,622 crore in the same period in 2017 and up 5.8 per cent sequentially from Rs 6,545 crore a quarter ago. At 10:00 am, the stock was trading at Rs 3493, up 2.5 per cent on the BSE.

"Puzzle Fighter" Mobile Game Shuts Down on July 31
Puzzle Fighter mobile was the first game in nearly 10 years that Capcom Vancouver had created that wasn't a Dead Rising game. The game will no longer be available from app stores starting on the 1st of July.

Horror and disaster movies top the weekend box office once again
While this is a decent number, the film's Box Office will take a huge hit next week with the release of Avengers: Infinity War . The box office to the year continues down approximately 2.4 percentage from this past year, however, that will change next week.

NYPD searching for man in MAGA hat over alleged assault
The man then followed the commuter off the train, punched him in the head several times before throwing him onto the train tracks. New York City police are searching for a subway rider who allegedly attacked a fellow commuter on Friday, according to ABC .

In dollar terms, TCS reported revenue of $4,972 million in Q4, up 3.9 per cent quarter-on-quarter and up 11.7 per cent year-on-year.

TCS breached the 3,500 rupee ($52.87) per share mark on Monday for the first time, reaching $100 billion in market capitalisation.

"With robust deal wins and green-shoots in banking, financial services and insurance (BFSI) sector, there is definite possibility of double-digit revenue growth". The reward, however, hasn't come without a scare, as TCS shares had plunged five per cent after the promoter pared its holding from 73.6 per cent to 71.9 per cent. It reported a revenue growth of 8.2 percent at Rs 32,075 crore for the March quarter, up from Rs 29,642 crore a year earlier. With growth acceleration, scale up in digital and support from currency, margins are ready for uptick as well, implying return of double-digit revenue/earnings growth after 3 years.

"Justifying current valuation requires baking in Dollars 2.1 billion of incremental revenue in FY19 and justifying current valuation requires 11 percent CAGR over the next 7 years", it said. "Bonus share (1:1) and 80-100% FCF distribution is the icing on the cake", said the brokerage.

Related News:

  • Flyers beat Penguins, force Game 6

    Flyers beat Penguins, force Game 6

    Well let's go through this piece by piece if we can. "Look at our team last year and look at our team this year", he said. The so-called home ice edge in Philly lost some shine with large pockets of empty seats for a must-win Game 6.
    President signs Ordinance for death to convicts of child rapes

    President signs Ordinance for death to convicts of child rapes

    The new law also stipulates no provision of anticipatory bail in cases of rape with girls aged 16 years. It will be valid for six months, during which it has to be ratified by the parliament.
    Marquez crashes before taking controversial pole in Austin

    Marquez crashes before taking controversial pole in Austin

    As a result, the Spaniard has lost his sixth pole position at Circuit of The Americas and will start from fourth on the grid. Suzuki's Andrea Iannone of Italy will start third.
  • Bucks edge Celtics to level National Basketball Association  series, Spurs down Warriors

    Bucks edge Celtics to level National Basketball Association series, Spurs down Warriors

    Stevens immediately walked down Boston's bench and called for Semi Ojeleye , who did not play a second during the first half. The Celtics have won four of the five previous playoff series between the teams and have an 18-12 edge in games won.
    Starbucks' Howard Schultz: 'Ashamed' by arrests at Philadelphia store

    Starbucks' Howard Schultz: 'Ashamed' by arrests at Philadelphia store

    Katie Adams said she has spent hours at her local Starbucks, sometimes drinking only free water - without incident. And Robinson said he had been a customer at the Rittenhouse Square Starbucks since he was 15.
    Guardiola: I want Manchester City to be a Premier League machine

    Guardiola: I want Manchester City to be a Premier League machine

    The Belgian got on the scoresheet, too, scoring a thunderous effort to cap a man-of-the-match performance for Pep Guardiola's men. Next Ilkay Gündogan played an inadvertent one-two with the referee, Craig Pawson, that allowed the German to find David Silva.
  • Police rule out foul play in Avicii's death

    Police rule out foul play in Avicii's death

    In fact, Avicii worked so hard during his years touring that a documentary scene shows him working from his hospital bed. Video on social media captured a bell tower in the Netherlands playing what sounded like music the musician.
    Congress to move Supreme Court if CJI's impeachment-notice is rejected

    Congress to move Supreme Court if CJI's impeachment-notice is rejected

    Vivek Tankha, Chairman of the Congress' Legal Department, said: "He is the Chief Justice of India ". Earlier, Justice Ranganath Misra (21st) and Justice Gopal Ballav Patnaik (32nd) have held the post.
    Watford, Crystal Palace play out goalless draw

    Watford, Crystal Palace play out goalless draw

    The Premier League match between Watford and Crystal Palace will be broadcast on NBCSN. There's been no discussions in the club about Benteke leaving.
  • 13 killed in Boko Haram attacks

    13 killed in Boko Haram attacks

    The Nigerian Army on Saturday said its troops successfully repelled an attack by Boko Haram insurgents at Gamboru-Ngala in Borno. No group has claimed responsibility for the attack but police said it bears semblance with previous bombings by Boko Haram.
    3 passengers Wounded, window hits turbulence

    3 passengers Wounded, window hits turbulence

    The video also shows two overhead oxygen masks dangling from overhead module, having fallen when the Dreamliner hit turbulence. An Air India flight experienced severe turbulence mid-air leading to chaos in the aircraft.
    U.S.  level, Czechs 2-0 up in Germany

    U.S. level, Czechs 2-0 up in Germany

    Britain had won both of the previous two meetings between the teams - in Johannesburg in 1972 and Nagoya in 1985. The Czech Republic will host the U.S.in the November 10-11 final after defeating Germany 4-1 in Stuttgart.


Most liked

Shania Twain apologizes for saying she'd vote for Trump if she could
Some people are relieved they're unreservedly to stan their icon again, while others are less impressed. If I were voting, I just don't want bull--.

Israel threatens 'targeted killings' of Hamas leaders
The Mossad is believed to have assassinated Palestinian militants and scientists in the past, but rarely confirms such operations. In addition to the drone downed previous year , Israel's army has said that it intercepted a drone off Gaza's coast in 2015.

Brandon Belt Sets MLB Record With 21-Pitch AB
The left handed Belt peppered the crowd with abundant souvenirs including two prolonged fouls down the lineup. Remarkably, Colon was in his second Major League season and is now the oldest active player at 44 years old.

India brings in death penalty for rape of girls
Police reports indicate Asifa was locked inside a temple and repeatedly raped for three days and finally strangled to death. Ms Maliwal said she was happy about the government's move but said police still need more accountability and resources.

Armenian police detain opposition leader in protests
The EU demanded the release of detainees for holding rallies in Armenia and called on all parties to restraint, TASS reports.

United want to win everything next year, says Wembley hero Sanchez
Three thoughts from Wembley on Manchester United's 2-1 win over Tottenham in their FA Cup semi-final. Rewatch the highlight reel of the FA Cup semi-final.

S. African soccer violence condemned
Moses Mabhida Stadium was opened in 2009 and was a central venue during the 2010 World Cup. The woman, who was beaten unconscious is said to be in a serious condition.

BBNaija: Cee-c Is Better Than Buhari - Reno Omokri
Miracle also won the Friday Night game show N1m cash prize and other monetary prizes during his 85 days stay in the house. Champaign splashing and everyone gathering to embrace him, finally he stood up and continued to celebrate in disbelief.

Conway to CNN Host: You're Being Sexist
The tense exchange went on for almost five minutes, with Conway suggesting she faces a "different standard" than have past presidential aides, and slamming Bash for bringing up her marriage.

Kathua rape and murder: Law Minister lauds the role of police
It also said that medical experts had confirmed the sedation, sexual assault and subsequent murder of the eight-year-old girl.

City's Sane named PFA Young Player of the Year
Sane finished first in the voting ahead of Harry Kane and Raheem Sterling, who finished second and third respectively. With an already extraordinary season at Liverpool, Mohamed Salah jumped to the top of an elite list of goal-scorers.

Somewhat Positive News Coverage Somewhat Unlikely to Impact Enbridge (ENB) Stock Price
The Turner segment creates and programs branded news, entertainment, sports, and kids multi-platform content for consumers. Credit Suisse maintained ServiceMaster Global Holdings, Inc. (NYSE:ENB) on Thursday, September 1 with "Neutral" rating.

Iran signals crackdown on encrypted apps in attempt to reduce foreign influence
On the same day, the Russian media watchdog started blocking IP addresses of Google and Amazon subnetworks used by Telegram. The Amazon IP bans failed to take Telegram offline, however, so millions of IP addresses belonging to Google were targeted.

Coaching institutes in Jammu & Kashmir to remain closed for 90 days
Students in the Valley have been staging near-daily protests against the Kathua incident and clashing with security personnel. The minister said as per government rules, there will be no compromise on attendance of students in the schools.

Jay Feeley Responds to Prom Gun Photo, Says It Wasn't Loaded
However, with the recent uptick in gun control debates, some people felt that Feely's photo was distasteful - and inappropriate. My [d] aughter has dated her boyfriend for over a year and they knew I was joking.