Strong Debut For Tata Consultancy
On Aug. 25, Tata Consultancy Services, Asia's largest software services company, made its long-awaited debut on the Bombay Stock Exchange. The $18.80 stock jumped 23% on the first day of trading. The listing has brought into the open India's pioneering software services outfit, which before was privately held by the $12.8 billion Tata Group. Together with Infosys (INFY ) and Wipro (WIT ), India's three IT giants are now among the top 10 of the world's software services companies, along with Accenture (ACN ), IBM (IBM ), Electronic Data Systems (EDS ), and CSC. With the TCS listing, the total market capitalization of Tata Group's listed companies, including Tata Steel and Tata Motors, now exceeds $22 billion, or 10% of the Bombay Stock Exchange.
Edited by Christopher Power