Popular Indian IT Company Becomes Most-Valuable IT Services Firm in the World; Employees Overjoyed! - Report 

Despite COVID-19 pandemic and global crisis, Indian software services major Tata Consultancy Services (TCS) became the most valued company in the world surpassing Accenture. 

As per October 8 closing, TCS’s market value stood at USD 144.7 billion when compared to Accenture’s USD 143.1 billion. Looking at the other listed Indian companies on the list, TCS is behind Reliance Industries (RIL) in terms of market capitalisation which is at nearly USD 215 billion.

According to a Money Control report, TCS rallied over 3 percent to close at Rs 2,825 yesterday after its board approved a share buyback at Rs 3,000 per share. Following that, several brokerages upgraded TCS stock after it clocked stellar returns for the September quarter.

Currently, the company reported a profit after tax of Rs 7,475 crore for the quarter ended September 2020, registering a 6.7 percent sequential growth, Money Control further reported.

In the past few weeks, most Indian software services firms have witnessed good buying interest on the bourses. Wipro rallied over 10 percent in early trades and closed 7 percent higher, while Infosys rallied over 4 percent and closed 2.6 percent higher.