Tata Group’s IT powerhouse Tata Consultancy Services (TCS) has consolidated its position as India’s second most valuable company. The feat comes after a sharp rise of Rs 46,094.44 crore in its market valuation, taking the company’s total market capitalization to Rs 13,06,599.95 crore by the end of this week.The broader stock market also witnessed a rally, with the BSE Sensex gaining 1,134.48 points (1.55%) and the NSE Nifty gaining 427.8 points (1.93%) between March 3 and March 7. The biggest gainers were TCS and Mukesh Ambani-led Reliance Industries, which retained their position as India’s most valuable company. Following its remarkable rise, TCS has once again regained the second spot in the ranking of India’s most valuable firms. Tata Sons, which holds a 71.74% stake in TCS, derives nearly 80% of its dividend income from the IT giant, indicating the importance of TCS to the Tata Group.The collective market valuation of seven of the top 10 most valuable Indian companies rose by Rs 2,10,254.96 crore during the week. Reliance Industries also saw a gain of Rs 66,985.25 crore, taking its market capitalization to Rs 16,90,328.70 crore. Under the leadership of K. Krithivasan, who has been serving as the CEO and MD since 2023, TCS has been consistently delivering strong financial results. For the December quarter of FY25, TCS reported a 12% year-on-year rise in consolidated net profit to Rs 12,380 crore as compared to Rs 11,058 crore in the same quarter last year.Revenue for the quarter stood at Rs 63,973 crore, registering a growth of 5%. The company also declared an interim dividend of Rs 10 per share and a special dividend of Rs 66 per share, reflecting its commitment to shareholder value. The story of TCS (Tata Consultancy Services) began with a small enterprise that has grown into a mega company worth Rs 15 lakh crore today. It started in 1968 when Fakir Chand Kohli, who is considered the father of Indian IT. Fakir Chand Kohli, along with a young team, created a demand for computer services.TCS signed its first external contract in 1971 when it got the task of creating inventory and stock control systems for power companies in Iran. This was a significant step that gave TCS international recognition. In 1973, TCS converted a hospital accounting system into code for smaller systems, although they did not have computers at that time. For this, they developed an in-house tool that went down in history as the first offshore delivery project.In 2002, TCS signed a $100 million contract with GE Medical Systems, which was the largest contract ever by an Indian software services firm. After this, in 2004, TCS raised $1 billion through its IPO.By 2020, TCS emerged as the world’s largest agile workforce, consisting of more than 545,000 associates. In 2022, TCS reported revenue of $25.7 billion.Talking on this topic, Malay Sourav, a financial analyst who works at EY, said, “TCS (Tata Consultancy Services) is an Indian multinational technology company that provides IT services, consulting, and business solutions. TCS provides services to various industries such as banking, finance, insurance, retail, telecommunications, etc. TCS currently has more than 601,000 consultants and operates in 54 countries. The company is headquartered in Mumbai and is listed on BSE and NSE in India.”
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