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TCS Surpasses Accenture To Become World's Most Valuable IT Company

By Staff
|

On Thursday, when shares of Tata Consultancy Services (TCS) surged to a new all-time high, the company surpassed Accenture to become the world's most valuable IT company in terms of market capitalisation.

TCS Surpasses Accenture To Become World's Most Valuable IT Company
 

At the closing price of Rs 2,825 on 8 October on NSE, TCS' market cap rose to $144.73 billion (Rs 10.6 trillion), which is higher than Accenture's $142.4 billion and IBM's $110.5 billion.

On Friday, shares of the Tata Group slipped nearly 2 percent in morning trade pushing its market cap below Rs 10.5 trillion, on likely profit-booking by investors.

The stock rose on Thursday after the company reported a better than expected performance for the September-ended quarter and the announcement of its Rs 16,0000 crore share buyback plan. The company also declared an interim dividend of Rs 12 per share.

Read more about: tcs tata consultancy services
Story first published: Friday, October 9, 2020, 9:56 [IST]
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