Tata Consultancy Services Ranked Fifth in Bloomberg Businessweek’s Tech 100
TCS Recognized as the Best Performing IT Services Company
MUMBAI, June 3, 2010: Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS), the leading IT services, business solutions and outsourcing firm, today announced that it ranked fifth overall, and topped the list for IT services, in Bloomberg Businessweek’s 12th annual “Tech 100”, a ranking of the world's best performing tech companies.
To compile this list, over 6,500 actively traded primary securities across 13 tech sectors were initially considered. Companies who did not meet the requirements of a minimum capitalization of $1 billion, revenues of at least $500 million, under a 5 percent decline in revenues from 2008 and 2009, and less than a 50 percent drop in stock value in the last year ending April 30, 2010, were eliminated. The remaining companies’ revenues and operating income were normalized in order to fairly compare and rank them based on these metrics, weighted at 35 percent each, as well as total shareholder return and employee growth, weighted at 20 percent and 10 percent respectively.
The top hundred tech companies were ranked in order of the best weighted scores. With a shareholder return of 150 percent, TCS jumped from 30th on last year’s list to the fifth position this year.
A part of the Tata Group, India’s largest industrial conglomerate, TCS works as a trusted business advisor to provide global corporations with a wide range of IT, BPO, Infrastructure and Consulting services and solutions. Based on a Global Network Delivery Model™, TCS works around-the-clock with more than 1,000 companies in 55 countries to deliver a collaborative, best-in-class framework of people, processes and infrastructure to consistently ensure success of customers' initiatives anytime and anywhere.
To view the Bloomberg Businessweek Special report, visit: http://www.businessweek.com/technology/special_reports/20100520tech_100.htm
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™,recognized as the benchmark of excellence in software development. A part of the Tata Group, India’s largest industrial conglomerate, TCS has over 160,000 of the world's best trained IT consultants in 42 countries. The Company generated consolidated revenues of over US $6.3 billion for fiscal year ended 31 March 2010 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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