Indian Information Technology Sector Revolution.
Infosys and TCS both announced their first-quarter earnings.
Mumbai-based TCS started the financial year on a stronger note.
The company reported a profit Rs. 7,340 crore, an increase of 6.3 percent from the previous quarter.
Infosys's quarterly results were mixed as the bottom-line and operating numbers met analyst expectations but revenue and FY19 met expectations.
The Bengaluru-based company’s Q1 profit fell 2.2 percent QoQ to Rs. 3,612 crore.
In terms of market capitalization, TCS overshadows Infosys.
At over $100 billion, TCS’s market capitalization is 2.6 times that of Infosys’ market capitalization of about $41 billion.
TCS is currently the most valued listed company in India.
Though Infosys is frequently called the bellwether of India’s technology sector, TCS has been in the lead for 10 years.
A decade ago, TCS’s market capitalization was about 1.5 times that of Infosys.
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Information Gathered from: https://www.moneycontrol.com/company-article/infosys/news/IT