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Home Gadgets TCS overtakes Accenture to become world’s largest IT firm by market cap

TCS overtakes Accenture to become world’s largest IT firm by market cap


Mumbai: Tata Consultancy Services Ltd. (TCS) on Monday eclipsed Accenture Plc to grow to be the world’s largest IT firm by market cap. Within the course of, it additionally grew to become India’s most precious firm, overtaking Reliance Industries Ltd. (RIL) after 11 months.

The New York Inventory Change, the place Accenture is listed, is but to open for commerce on Monday.

TCS’ share worth fell 0.40% Rs 3,290 apiece — on the BSE at this time, imparting India’s largest software program providers exporter a market cap of $169.2 billion, or Rs 12.34 lakh crore. Accenture is at present valued at $168.4 billion, or Rs 12.27 lakh crore, on the NYSE. RIL’s market cap is at present at $168.5 billion, or Rs 12.29 trillion.

ETtech

TCS delivered better-than-expected Q3 results — its web revenue rose 7.3% year-on-year to Rs 8,701 crore in a historically weak quarter. Throughout October -December, The IT bellwether, a Tata Group firm, made two acquisitions to increase its presence within the European market and is prone to see extra massive deal wins, in line with the administration.

The NSE Nifty IT Index outperformed the broader indices in a pandemic 12 months as data know-how corporations capitalised on the elevated demand for digital providers for distant working.

The Nifty IT index rose 57.98% within the final one 12 months in comparison with a 16.25% rise in NIfty 50.

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