Market cap of eight of top-10 most valued firms jump over Rs 1.52 lakh crore; HDFC Bank biggest gainer
In the ranking of top-10 firms, Reliance Industries was leading the chart, followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, HDFC, ICICI Bank, Bajaj Finance, SBI and Kotak Mahindra Bank.
The IT major on Friday reported a 14.1 per cent rise in consolidated net profit at Rs 9,624 crore in the September 2021 quarter, aided by broad-based growth across geographies and verticals.
Shares of Tata Consultancy Services on Monday tumbled 7 per cent after the company's September quarter earnings missed market expectations.
Tata Consultancy Services, which employs over 5 lakh people, also reported an increase in attrition at 11.9 per cent.
Its revenue grew 16.7 per cent to Rs 46,867 crore for the September 2021 quarter from Rs 40,135 crore in the year-ago period.
'TCS' two-decade-long relationships with SBI is a testament to our customer-centricity and our approach of harnessing collective knowledge to create greater futures.
A government release said TCS would employ 10,000 people at the end of the five years from the commencement of commercial operations.
The system will include an on-demand data and records management system that will enhance user experience by offering services like licensing payments and refunds to vehicle operators and owners
TCS is the second most valuable domestic firm after Reliance Industries Ltd, whose m-cap stood at Rs 13,96,135.56 crore.
Ranking of many others Indian companies, including Tata Consultancy Services, HDFC Bank, HDFC and Bharti Airtel, declined compared with last year on the Hurun Global 500 list.
The company reached this milestone after shares of the company jumped 2.32 per cent to close at Rs 3,552.40 on the Bombay Stock Exchange.
In traded volume terms, 2.32 lakh shares were traded at the BSE and over 63.65 lakh units at the NSE during the day.
Reacting to the results, analysts at domestic brokerage Reliance Securities said the revenue underperformance was a one-off and welcomed the significant deal wins.
TCS CEO said that markets like North America, Europe, UK, Australia have seen a 4-5% revenue growth in CC terms for the quarter.
20 per cent of workforce to remain remote for next two years despite increasing vaccinations, says report
Several IT giants and tech start-ups have already announced plans towards a swifter adoption of the hybrid work model where employees will not be expected to attend offices.