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MUMBAI: (TCS), the world's most valuable IT services company and the country's biggest software exporter, has become the first Indian company to hit a market cap of over Rs 4 lakh crore (around $60 billion at Friday's exchange rate) in the last five-and-a-half years, thanks to the sharp depreciation of the rupee and revival in the US economy.
TCS is also the second company to cross that benchmark in Indian capital market history. The gap between the market capitalisation of TCS and its nearest rival in valuation, Reliance Industries (RIL) — the latter being the first company to have crossed the Rs 4-lakh-crore market cap mark — is now more than Rs 1 lakh crore. TCS now accounts for 64% of the market capitalisation of the entire Tata Group, nearly double the 33% share in March 2008.
CLSA, a leading foreign brokerage, on Friday said TCS has the potential to climb even further and become India's first company to reach $100 billion in market cap in the next few years.
TCS can become India's first company to reach $100 billion in market cap: CLSA - The Economic Times
TCS is also the second company to cross that benchmark in Indian capital market history. The gap between the market capitalisation of TCS and its nearest rival in valuation, Reliance Industries (RIL) — the latter being the first company to have crossed the Rs 4-lakh-crore market cap mark — is now more than Rs 1 lakh crore. TCS now accounts for 64% of the market capitalisation of the entire Tata Group, nearly double the 33% share in March 2008.
CLSA, a leading foreign brokerage, on Friday said TCS has the potential to climb even further and become India's first company to reach $100 billion in market cap in the next few years.
TCS can become India's first company to reach $100 billion in market cap: CLSA - The Economic Times