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TCS becomes world’s second most-valuable IT services firm

India’s IT giant, Tata Consultancy Services (TCS) is now the
world’s second-most-valuable IT services company ahead of Accenture and
Hewlett-Packard but behind IBM.

India’s IT giant, Tata Consultancy Services (TCS) is now the
world’s second-most-valuable IT services company ahead of Accenture and
Hewlett-Packard but behind IBM.

Tata Consultancy Services (TCS) is now not only the leader
in the BSE charts but it has a market capitalisation that surpasses the
aggregate of the four IT majors Infosys, Wipro, HCL Technologies and Tech
Mahindra making it a more valuable company than all of them combined.

“TCS has long been the 800-lb gorilla in the Indian offshore
space but until recently has never really been able to take its rightful spot
in the market, always overshadowed by the likes of Infosys and Wipro,” said
Partha Iyengar, country manager for Gartner Research in India. “Today, they
have very clearly separated themselves from the rest of the Indian pack,” he
added.

In India, TCS topped the market capitalization of Reliance
Industries, India’s most valuable company until a few months ago. In tandem,
the valuations of leading Indian IT services companies have crested to
multi-year highs. But TCS accounts for nearly half of the Indian IT industry’s
combined market capitalization.

TCS’ number two position globally by value could help its
branding and make it a stand out to customers. It has just bagged a five-year,
multimillion euro IT infrastructure deal with SAS Scandinavian Airlines. As the
world’s second most-valuable IT firm, TCS is expected to become popular amongst
Indian investors as well as large global institutions. TCS is part of India’s
salt-to-airline industrial conglomerate,Tata.

TCS is notable in terms of employee count and geographical
spread. In March this year, its headcount was 276,196 employees. Rival IBM had
430,000 workers at last count, a bulk of them in India. In geographical reach,
the North American market – a vital market for India’s outsourcing companies –
accounts for half of TCS’ revenues. But a fifth of its revenues come from
emerging markets.

[Source: Forbes]
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