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Tata Consultancy Providers information | TCS surpasses Accenture to develop into world’s most-valued IT agency in m-cap

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TCS outperforms Accenture and becomes the world’s most valued IT company for M-Cap

Mumbai: Tata Consultancy Services Ltd (TCS) became the most valuable IT company on January 25, outperforming US-based IT giant Accenture in market capitalization. While the valuation of the TCS at the close of trading on Monday was USD 169.25 billion, Accenture’s M-Cap was USD 168.68 billion.

However, this is not the first time that the IT major has zoomed past Accenture to become the most valuable IT services company in the world.

TCS stock closed today at Rs 3,290.20 on the Sensex, a decrease of 0.40% from the previous close. The benchmark index lost 1.09% and closed at 48347.59 points.

Other NYSE-listed tech majors SAP and IBM have market caps of $ 152.02 billion and $ 105.68 billion, respectively. Infosys’ market cap, listed on BSE, was $ 77.21 billion.

It also became India’s most valuable company, overtaking Reliance Industries Ltd. after 11 months. RIL’s market capitalization is currently $ 168.5 billion.

TCS, the country’s largest software exporter, posted consolidated net income up 7% year over year to Rs 8,701 billion for the quarter ended December, compared with consolidated net income of Rs 8,118 billion for the same quarter last fiscal year.

Revenue for the quarter increased 5.42% year over year to Rs.42,015 billion from Rs.39,854 billion for the same quarter last year.

The NSE Nifty IT Index outperformed the broader indices in a pandemic year as information technology companies benefited from increased demand for digital remote work services.