TCS crosses Rs10000 crore market capitalization, overtakes Accenture

Tata Consultancy Services Ltd (TCS) crosses the Rs10,000 crore market capitalisation milestone. It has overtaken Accenture Plc which has a market cap of Rs9,820 crore. With this, TCS now ranks 97th in the world’s 100 most valued organisations. TCS shares rose 2.65% on Monday to Rs3,496. TCS dollar revenue increased 3.9% to Rs497 crore billion in the quarter. The firm has increased its target price to Rs2,950 from Rs2,550 earlier. It expects revenue growth to accelerate from 6.7% in fiscal 2018 to 9.9% in FY19.