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India’s Most Valued Company – TCS

Sourav by Sourav
May 21, 2019
in Industries
Reading Time: 2 mins read
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Tata Consultancy Services TCS

India’s multinational information technology service and consulting company TCS (Tata Consultancy Service) regained the status of the most valued firm in the country in term of market capitalisation (market-cap) on Thursday, repressing past Reliance Industries Limited (RIL) owned and controlled by Mukesh Ambani, which slipped down to the number two position.

With market-cap Rs 8.13 trillion, more than RIL of Rs 7.95 trillion valuation TCS market-cap stood on number 1 position. Over the past few days, RIL has lost 11 per cent at the stock exchange. Over the fourth consecutive session, RIL down with 3.4 per cent at Rs 1,255, after foreign brokerages downgraded the stock. The company has faced an M-cap erosion of Rs 96,288 crore during this time period. On May 3, 2019, RIL’s market cap stood at Rs 8.91 trillion. Earlier TCS has m-cap of Rs 7.08 trillion and RIL of Rs 7 trillion on January 10, 2019.

reliance industries
Image courtesy: financialexpress.com

The reason behind the downgraded of the stock goes to an analyst at Morgan Stanley who downgraded the stock to ‘equal-weight’ with a price target of Rs 1,349, that upswings to reverse of RIL’s two-year earnings.

“With its priorities now different and segment EBITDA negative, RIL has been retreating from US shale having already written off half of its $9.5 billion spends. Indeed, shale would cost RIL $5 billion in net cash flow too if it could divest residual assets at the $2.3bn carrying value but Pioneer’s Eagle Ford sale suggests that this may be too optimistic. Data, hopefully, is not the new oil but expectations are lofty at around $100 billion in implied Telecom/Retail EV,” the brokerage firm said in a report dated May 8, 2019.

Over the past few days, RIL and TCS were competing with a very close margin in order to be at number 1 position in term of market capitalisation. The market-cap figure of companies keeps on changing with daily stock price movement.

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Sourav

Sourav

Excellent story-teller, with a background in SEO and Digital Marketing. Likes to write and give form to opinion and incidents.

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