TCS emerged as first company to cross $100-billion mark

Mumbai, April 23: Riding high on robust quarterly results and a weak rupee, IT bellwether Tata Consultancy Services (TCS) on Monday emerged as the first Indian listed technology company to cross the $100-billion mark in terms of market capitalisation (m-cap).

The IT major -- whose shares rose over four per cent to a new high of Rs 3,557 per share on the BSE during market hours -- overtook its global peer Accenture, which has a market value of $98 billion dollars.

"It is a very proud moment for all of us. TCS has been able to create value consistently by making the right investments not only in terms of technology, but also in terms of creating capabilities, building leadership and talent, seeding new markets and developing scalable world-class solutions," N. Chandrasekaran, Chairman, Tata Sons, said in a statement.

"I would like to thank our shareholders for their continued support," he said.