TCS overtakes Accenture to become world’s largest IT firm by market cap

Mumbai: Tata Consultancy Services Ltd. (TCS NSE -1.16 %) on Monday eclipsed Accenture Plc to become the world’s largest IT company by market cap. In the process, it also became India’s most valuable company, overtaking Reliance Industries NSE -1.65 % Ltd. (RIL) after 11 months.

The New York Stock Exchange, where Accenture is listed, is yet to open for trade on Monday.

TCS’ share price fell 0.40% Rs 3,290 apiece — on the BSE today, imparting India’s largest software services exporter a market cap of $169.2 billion, or Rs 12.34 lakh crore. Accenture is currently valued at $168.4 billion, or Rs 12.27 lakh crore, on the NYSE. RIL’s market cap is currently at $168.5 billion, or Rs 12.29 trillion.