India's largest outsourcing company, Tata, reaches $100bn market cap
Tata Consultancy Services (TCS) is the largest IT outsourcing company in India and continues to grow.
Shares in the company went up 7% on Friday as the company released its financial figures, and its market capitalisation moved up to over $99bn.
The company’s net profit for Q4 saw a rise of 4.5% year on year. TCS is now the 104th biggest company in the world by market cap.
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Following on from this success TCS announced a 1:1 bonus share for all shareholders, and paid dividends of Rs29 ($0.44) per share.
TCS calls itself a “global leader in IT services, digital, and business solutions” and has just under 395,000 employees across 46 countries.
Some key industries the company serves include banking, insurance, manufacturing, retail, healthcare and hospitality among others. Some of the technologies it leverages to provide services include AI, Big Data and IoT.
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