India's TCS becomes Most Valued IT Company in the World

India's Tata Consultancy Services (TCS) overtakes Accenture to become the most valued IT services company in the world today.

The company also became the most valued firm in India, after overtaking Reliance Industries Ltd. (RIL) in its domestic market after 11 months.

TCS's market capitalization rose to US$ 169.9 billion ahead of its rival Accenture, as reported by ET Times.

India-based Tata Consultancy Services is a global leader in IT services, consulting and business solutions with a large network of innovation & delivery centers.

The company has been performing well with better than expected outcomes in the third quarter and witnessed a year-on-year increase of 7.3% in its web revenues, according to SmartNews Business.

It is important to note that back in 2018, IBM secured the first place in the market with 300% more revenue than TCS, followed by Accenture in the second place.

However, TCS reached the $100 billion valuation mark, overtaking Accenture’s market cap in April that year.