TCS overtakes Accenture in market cap

Tata Consultancy Services (TCS) overtook Accenture in terms of market capitalisation even as it became the first Indian company with a market value of $100 billion on Monday. Phil Fersht, CEO of IT research firm HfS, reportedly said the higher value of TCS could be because its core offering is managed services, whereas it is consulting for Accenture. Reportedly, Accenture’s revenue is twice that of TCS.