India’s largest IT services exporter, Tata Consultancy Services (TCS), is now worth more than Rs 5 lakh crore. It is bigger than the next four biggest Indian IT companies put together. Even with its huge base, TCS continues to generate healthy revenue growth sequentially. In fact, among the top three companies—the other two being Infosys and Wipro—TCS was the only one which grew revenues sequentially (2.6%) during the June quarter of the current fiscal and also had the highest growth rate on an annual basis (23%).

Tata Consultancy Services (TCS) is tapping the markets to raise Rs 4,000 crore through a commercial paper programme.

ICRA has assigned an A1+ rating to the programme. It said, “The long-term outlook on the rating is stable.

Tata Consultancy Services Ltd’s (TCS) Rs.5 trillion market capitalization isn’t a merely milestone. It sends some other important signals as well. TCS’s market cap is now greater than the combined market capitalization of the next four biggest Indian information technology (IT) companies—Infosys Ltd, Wipro Ltd, HCL Technologies Ltd and Tech Mahindra Ltd.

Some of these companies have ceased to be the real competition for TCS and this is reflected in the value investors have assigned to these companies on a relative basis. But what about firms such as Accenture Plc and Cognizant Technology Solutions Corp., which are closer to home in terms of size of operations and growth respectively?

Tata Consultancy Services (TCS) on Wednesday became the first Indian company to exceed Rs 5 lakh crore in market capitalisation. The company's share price touched a 52-week high of Rs 2,580.60, taking its market cap to Rs 5.6 lakh crore ($86.5 billion, at 60 a dollar).

This is more than the combined market cap of rival information technology companies Infosys (Rs 1,92,198 crore), Wipro (Rs 1,40,481 crore) and HCL Technologies (Rs 1,07,878 crore). TCS is also ahead of global competitors like Accenture and is within striking distance of SAP's $100 billion, though it is far behind IBM's $193.70 billion.

A dividend bonanza from India's largest information technology company Tata Consultancy Services will come in handy for Tata Sons as it steps up investment in group companies. In the past three months, Tata Sons received nearly Rs 9,400 crore in dividends from TCS, almost twice its revenue in 2013-14.

The cash will help Tata Sons fund the acquisition of NTT Docomo's stake in Tata Teleservices, the upcoming rights issue of India Hotels and the investment in its venture with Singapore Airlines.

India's largest information technology services provider, Tata Consultancy Services (TCS), said it continued to rely on H1-B visa for its employees as the rejection rate in the L1 category remained high.

TCS had filed for 11,700 H1-B visas this year and has received approval for 5,700 so far. "We have not been yet told the rejection numbers, so I think we may get a few more approved. Last year, too, we had received approval for 5,800-6,000 visas. Rejection in the L1 category is still high," said Ajoy Mukherjee, global head of human resources at TCS. Last year, TCS had applied for 9,000 H1-B visas.

Despite being the largest information technology services player in India, Tata Consultancy Services (TCS) posted a strong set of numbers for the quarter ending June that were ahead of Street estimates. TCS also said FY15 will be a better year in terms of top line growth and the deal pipeline remains strong.

Broad-based growth across key geographies and verticals, strong volume growth and healthy deal kitty enabled TCS post another robust quarter.

Broad-based growth across divisions and markets, and the ability to manage its cost better, allowed India’s largest information technology services company, Tata Consultancy Services (TCS), to again deliver results which were better than expected.

We reiterate our ‘buy’ rating on Infosys and remain constructive on the stock given reasonable valuations of ~14x FY16f and a gradually improving revenue growth trajectory. We raise our target price to R3,790 (earlier R3,770) on roll-forward and it is based on 16x 1 year forward EPS (up to June-16) of R236.6. The 16x multiple (unchanged) is a 10% discount to its historical average valuations and 20% discount to our target multiple for TCS.

Shares of information technology (IT) companies are trading higher in the range of 1-4% on the National Stock Exchange (NSE) after Infosys reported a better-than-expected consolidated net profit for the first quarter ended June 30, 2014 (Q1).

All four large-cap IT stocks - Infosys, Tata Consultancy Services (TCS), HCL Technologies and Wipro are up in the range of 1-2%. Rolta, Tech Mahindra, KPIT Cummins, NIIT Technologies and Hexaware Technologies are up 2-4% on NSE.

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