Outsourcing giant Tata Consultancy Services (TCS) has become the second most valuable IT services company in the world, ahead of Ireland’s Accenture but behind US’s IBM. Something that India and the Parsi Zoroastrian community should be proud of (Tata’s founder Jamsetji Nusserwanji Tata was born in a Zoroastrian Parsi Priestly family in 1839 in Navsari, Gujarat, India).
TCS’s market valuation rose to Rs 5,03,148 crore (about $84 billion), the highest since its listing l0 years ago, sprinting miles ahead of Accenture’s $51 billion, but way behind the leader IBM’s $193.7 billion.
TCS’s record market cap, the first Indian company to achieve the feat, is bigger than the combined market cap of the other four domestic IT players in the pecking order like Infosys ($31.7 billion), Wipro ($23.3 billion), HCL Technologies ($17.9 billion) and Tech Mahindra ($8.5 billion).
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