History
1968–2004
Tata Consultancy Services Limited, initially started as "Tata Computer Systems" was founded in 1968
by division of Tata Sons Limited.[22] Its early contracts included punched card services to sister
company TISCO (now Tata Steel), working on an Inter-Branch Reconciliation System for the Central
Bank of India,[23] and providing bureau services to Unit Trust of India.
In 1975, TCS delivered an electronic depository and trading system called SECOM for Swiss company
SIS SegaInterSettle [de]; it also developed System X for the Canadian Depository System and
automated the Johannesburg Stock Exchange.[24] TCS associated with a Swiss partner, TKS
Teknosoft, which it later acquired.[25]
In 1980, TCS established India's first dedicated software research and development centre, the Tata
Research Development and Design Centre (TRDDC) in Pune.[26] In 1981, it established India's first
client-dedicated offshore development centre, set up for clients Tandem. TCS later (1993) partnered
with Canada-based software factory Integrity Software Corp, which TCS later acquired.
In anticipation of the Y2K bug and the launch of a unified European currency (Euro), Tata
Consultancy Services created the factory model for Y2K conversion and developed software tools
which automated the conversion process and enabled third-party developer and client
implementation.[27] Towards the end of 1999, TCS decided to offer Decision Support System (DSS)
in the domestic market under its Corporate Vice President and Transformation Head Subbu Iyer.[28]
2004 to present
On 25 August 2004, TCS became a publicly listed company.[29][30]
In 2005, TCS became the first India based IT services company to enter the bioinformatics market.
[31] In 2006, it designed an ERP system for the Indian Railway Catering and Tourism Corporation.[32]
By 2008, its e-business activities were generating over US$500 million in annual revenues.[33][34]
TCS entered the small and medium enterprises market for the first time in 2011, with cloud-based
offerings.[35] On the last trading day of 2011, it overtook RIL to achieve the highest market
capitalisation of any India-based company.[36] In the 2011/12 fiscal year, TCS achieved annual
revenues of over US$10 billion for the first time.[37]
In May 2013, TCS was awarded a six-year contract worth over ₹11 billion (US$150 million) to provide
services to the Indian Department of Posts.[38] In 2013, the firm moved from the 13th position to
10th position in the League of top 10 global IT services companies[39] and in July 2014, it became
the first Indian company with over ₹5 trillion (equivalent to ₹6.4 trillion or US$90 billion in 2019)
market capitalisation.[40][41]
In Jan 2015, TCS ends RIL's 23-year run as India's most profitable firm.[42]
In Jan 2017, the company announced a partnership with Aurus, Inc., a payments technology
company, to deliver payment solutions for retailers using TCS OmniStore, a first of its kind unified
store commerce platform.[43] In the same year, TCS China was associated as a joint venture with the
Chinese government.[44]
TCS announced its FY19 Q3 results posting 24 per cent year-on-year (YoY) rise in profit at ₹81.05
billion (US$1.1 billion).[45] The stock plunged 2.5 per cent intra-day as brokerages cut price target.
[46]
TCS received the 2019 American Business Awards from Four Stevies.[47]
On 8 October 2020, TCS surpassed Accenture in market capitalisation to become the world's most-
valuable IT company with a market cap of $144.73 billion.[48] On 25 January 2021, TCS again
surpassed Accenture briefly, in market capitalisation to become the world's most-valuable IT
company with a market cap of $170 billion.[49] The same day, TCS became India's most valuable
company, surpassing Reliance Industries with a market cap of ₹12.55 trillion (US$180 billion).[50]
