It is worthwhile to appreciate the full achievement of TCS. In 2000, TCS was not a listed company. It was not even the segment leader in India. By 2010, its market cap had grown to a creditable $25 billion and it had become the segment leader in India(REUTERS)
It is worthwhile to appreciate the full achievement of TCS. In 2000, TCS was not a listed company. It was not even the segment leader in India. By 2010, its market cap had grown to a creditable $25 billion and it had become the segment leader in India(REUTERS)

TCS third most valued IT services brand globally: Brand Finance

TCS has celebrated strong revenue growth as demand grows for its core transformation services and through winning deals - worth over $6.8 billion in the fourth quarter of 2020 alone, it added.
PTI
PUBLISHED ON JAN 27, 2021 03:06 PM IST

Tata Consultancy Services (TCS) has been ranked third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance.

Four Indian IT services companies -- TCS, Infosys, HCL and Wipro -- secured spots in the top-10 global tally.

"Third-ranked TCS is rapidly closing the gap with IBM following a healthy 11% brand value increase to USD 15 billion," the report by Brand Finance said.

TCS has celebrated strong revenue growth as demand grows for its core transformation services and through winning deals - worth over $6.8 billion in the fourth quarter of 2020 alone, it added.

"With the brand benefiting from the long cycle of technology spending in its overseas markets, and the increase in spending from the financial sector in the US and European markets as the road to recovery begins, TCS will be hoping the coming year will prove even more fruitful," the report said.

Accenture retained the title of world's most valuable and strongest IT services brand with record brand value of $26 billion, while IBM continued at the second place with brand value of $16.1 billion.

The report said 'Brand value' refers to the present value of earnings specifically related to brand reputation.

"With what was a very tough 2020, led so ably by its CEO Rajesh Gopinathan, TCS has excelled itself once again. Along with 10% growth in its brand, its market cap also hit pole position in its industry and it is increasingly closing in on the top two in the IT services sector table," Brand Finance CEO (Chief Executive Officer) David Haigh said.

Rajashree R, Chief Marketing Officer at TCS, said this recognition of TCS' brand strength is a stellar reaffirmation of the continued trust that customers have placed in the company.

"We are proud and excited to embark on the next phase of our growth, building on our beliefs, and harnessing the passion, dedication and strength of our 469,000 associates who are the true custodians of Brand TCS," he added.

The report noted that Infosys has overtaken Cognizant at the fourth spot, following a 19% brand value increase to $8.4 billion. Cognizant has suffered a 6% brand value loss of $8 billion. The Bengaluru-based company has entered the "Big 4 of IT services brands globally and making it the fastest growing brand in the top 10", it added.

"Even before the pandemic, Infosys' leadership recognised the importance of focusing on its service offering, including data security and cloud services. This focus, paired with key acquisitions to bolster the brand's end-to-end customer experience offerings, has propelled Infosys to a position where it consistently wins larger consulting, data management and cloud service projects," the report said.

HCL was at the seventh spot, while Wipro ranked ninth in the tally.

Tech Mahindra saw 11% brand value growth to $2.3 billion that has enabled the brand to jump to the 15th spot in this year's ranking as it continues to work towards accelerated growth through building on its healthy pipeline deals and embracing new 5G opportunities, the report said.

"Being recognised as one of the fastest growing organisation globally is a true testimony of our collective spirit of resilience...At Tech Mahindra, we took this challenge on war footing to ensure business continuity and enhanced customer experience through innovative and purpose-driven initiatives, while also living up to our promise of delivering 'Connected World and Connected Experiences'," Harshvendra Soin, Global Chief People Officer and Head of Marketing at Tech Mahindra, said.

LTI was named as the sector's fastest growing with 37% brand value growth to $982 million (ranked 21) by the report.

"For the last five years, LTI has consistently delivered double digit growth year-on-year and shows no signs of slowing down. As a young brand, it is rising quickly within a highly competitive space, and is fast becoming one of the most exciting challenger brands within the sector," it added.

SHARE THIS ARTICLE ON
Topics
tcs
Close
A salesman speaks to customers in a jewelry store in the Gold Souk in the Deira district of Dubai, United Arab Emirates, on Tuesday, Feb. 9, 2021. (Bloomberg)
A salesman speaks to customers in a jewelry store in the Gold Souk in the Deira district of Dubai, United Arab Emirates, on Tuesday, Feb. 9, 2021. (Bloomberg)

After the worst start in 30 years, gold losses sheen this February

By hindustantimes.com | Edited by Arpan Rai, New Delhi
PUBLISHED ON FEB 28, 2021 04:22 PM IST
Going by the week-wise depletion, in the first week of February, 24-carat gold became cheaper by 1837 and silver lost 2303.
Close
Last year China's direct investment to Australia focused on just 20 projects in three sectors -- real estate, mining and manufacturing -- the fewest in a decade.(AP)
Last year China's direct investment to Australia focused on just 20 projects in three sectors -- real estate, mining and manufacturing -- the fewest in a decade.(AP)

Chinese investment in Australia plunges due to souring relation, Covid-19 impact

AFP
PUBLISHED ON FEB 28, 2021 04:04 PM IST
Data from the Australian National University released Sunday showed direct investment plunged to US$800 million last year, from US$2.05 billion in 2019.
Close
Reserve Bank of India(HT Photo)
Reserve Bank of India(HT Photo)

‘Not an unmixed blessing’: RBI report amid plan for digital currency

By hindustantimes.com | Edited by Mallika Soni
PUBLISHED ON FEB 28, 2021 03:23 PM IST
Earlier in the week, RBI governor Shaktikanta Das said that the central bank plans to launch its own digital currency and the work with respect to the same was in progress.
Close
Key benchmark index Sensex dropped by 1,786 points or 3.46 per cent last week amid weak global cues.(Bloomberg)
Key benchmark index Sensex dropped by 1,786 points or 3.46 per cent last week amid weak global cues.(Bloomberg)

Nine of top 10 firms lose nearly 2.2 lakh crore in market valuation

PTI, New Delhi
PUBLISHED ON FEB 28, 2021 03:22 PM IST
Reliance Industries (RIL) was the only scrip to post gains in its market valuation among the top 10 valued companies.
Close
Saudi woman walks at the Saudi stock market (Tadawul), in Riyadh, Saudi Arabia.(File Photo / REUTERS)
Saudi woman walks at the Saudi stock market (Tadawul), in Riyadh, Saudi Arabia.(File Photo / REUTERS)

Saudi shares drop as US pins Khashoggi murder on crown prince

Posted by Kunal Gaurav | Bloomberg
PUBLISHED ON FEB 28, 2021 02:29 PM IST
  • While President Joe Biden’s administration imposed only modest new sanctions on the kingdom, it’s expected to announce more action on Monday.
Close
Outsourcing coal workers working at a colliery at Jharia in Dhanbad, Jharkhand,( Chandan Paul / Hindustan Times)
Outsourcing coal workers working at a colliery at Jharia in Dhanbad, Jharkhand,( Chandan Paul / Hindustan Times)

India's coal import drops 12 % to 181 million tonnes in January-April period

PTI
PUBLISHED ON FEB 28, 2021 01:35 PM IST
The company had imported 204.55 MT of coal in April-January period of the previous fiscal year, according to provisional data compiled by mjunction services.
Close
Job losses and non-availability of casual work were the key reasons, according to the survey.(Stock image: Getty)
Job losses and non-availability of casual work were the key reasons, according to the survey.(Stock image: Getty)

96% people faced drop in earnings during lockdown: Survey

PTI, Mumbai
PUBLISHED ON FEB 28, 2021 10:27 AM IST
Of the total respondents, 52 per cent were from rural areas and the rest from urban limits.
Close
Women walk past the New York Stock Exchange (NYSE) near Wall Street in New York. (AFP)
Women walk past the New York Stock Exchange (NYSE) near Wall Street in New York. (AFP)

Women make inroads on Wall Street, but many mountains yet to be moved

AFP, New York
PUBLISHED ON FEB 28, 2021 08:37 AM IST
  • Employment figures demonstrate the mountains that still have to be moved to achieve parity between men and women in the financial services sector.
Close
Theatres stand temporarily closed on Shaftesbury Avenue during England's third coronavirus lockdown, in London(AP)
Theatres stand temporarily closed on Shaftesbury Avenue during England's third coronavirus lockdown, in London(AP)

UK govt to set $7 billion program to help struggling firms

Bloomberg
PUBLISHED ON FEB 28, 2021 06:01 AM IST
The UK is set to create a 5 billion-pound ($7 billion) grant program to help businesses that have been hard hit by the pandemic.
Close
"We have no time to waste. If we act now, decisively, quickly and boldly, we can finally get ahead of this virus," Biden said. (REUTERS)
"We have no time to waste. If we act now, decisively, quickly and boldly, we can finally get ahead of this virus," Biden said. (REUTERS)

US Prez Biden urges quick Senate action on huge stimulus package

Posted by Harshit Sabarwal | AFP
UPDATED ON FEB 27, 2021 11:45 PM IST
The package passed the House just after 2:00 am (0700 GMT) Saturday, in a 219 to 212 vote, with not one Republican vote, and moves next week to the Senate. "I hope it will receive quick action," Biden said in a brief address from the White House.
Close
The Texas court has twice ruled against Apple in the past, demanding it pay hundreds of millions of dollars to VirnetX -- another company specializing in patent litigation.(Reuters file photo)
The Texas court has twice ruled against Apple in the past, demanding it pay hundreds of millions of dollars to VirnetX -- another company specializing in patent litigation.(Reuters file photo)

US SC to look into system that lets corporations like Apple kill patent lawsuits

Bloomberg
UPDATED ON FEB 27, 2021 08:52 PM IST
  • In an argument at the intersection of intellectual property and the separation of powers, the justices on Monday will consider a challenge to a congressionally-created board that critics have dubbed a “death squad” because of its tendency to toss out patents.
Close
Warren Buffett, Chairman and CEO of Berkshire Hathaway(AP)
Warren Buffett, Chairman and CEO of Berkshire Hathaway(AP)

Warren Buffett says 'never bet against America' in annual letter to shareholders

AP
PUBLISHED ON FEB 27, 2021 08:39 PM IST
“In its brief 232 years of existence, however, there has been no incubator for unleashing human potential like America. Despite some severe interruptions, our country’s economic progress has been breathtaking,” Buffett wrote.
Close
Digital payments in India could rise to $135.2 billion in 2023, according to an Assocham-PWC India study in 2019.(Bloomberg)
Digital payments in India could rise to $135.2 billion in 2023, according to an Assocham-PWC India study in 2019.(Bloomberg)

Reliance partners with Google, Facebook for digital payment network bid

Reuters, New Delhi
PUBLISHED ON FEB 27, 2021 05:12 PM IST
  • Facebook and Google are already partnered with Reliance and own stakes in Jio Platforms
Close
Its education arm, known as Dali, meaning “big force” in English, was established last year and offers everything from pre-school programs to adult education and smart learning devices.(AP)
Its education arm, known as Dali, meaning “big force” in English, was established last year and offers everything from pre-school programs to adult education and smart learning devices.(AP)

ByteDance to hire 13k new employees, explore China's education technology

Bloomberg
PUBLISHED ON FEB 27, 2021 04:40 PM IST
ByteDance, the owner of the short video app TikTok, said that it will hire 10,000 educational professionals, including tutors and course designers, in China over the next four months,
Close
A neighborhood experiencing a power outage after winter weather caused electricity blackouts in San Marcos, Texas, US on February 16, 2021.(Reuters Photo )
A neighborhood experiencing a power outage after winter weather caused electricity blackouts in San Marcos, Texas, US on February 16, 2021.(Reuters Photo )

Texas’s power market is $1.3 billion short after energy crisis

Bloomberg
PUBLISHED ON FEB 27, 2021 02:31 PM IST
On Friday, the grid operator announced it would cover part of the shortfall with $800 million in congestion revenues, money generated from trading bottlenecks on the grid that is supposed to be returned to consumers.
Close
SHARE
Story Saved
OPEN APP