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TCS Stocks Has Given 3000% Return Since IPO; CEO Says IT Giant ‘Braved Pandemic Well’

If you had invested Rs 850 to buy one share of Tata Consultancy Services (TCS) in 2004 when the IT company came with its Initial Public Offering (IPO), that one share will be worth Rs 28,000 today. This is what Tata Sons Chairman N Chandresekaran said during the 17th annual general meeting (AGM) of TCS.

During the virtual meeting, Chandrasekaran said that the TCS shares have jumped 3000% since the company’s listing 17 years ago in 2004, reported Money Control.

During the 17th AGM, he also remembered the contribution of FC Kohli who led TCS in its initial 27 years. Chandrasekaran said Kohli navigated the IT firm through multiple technology waves and continuously invested in people, and in research and innovation.

“I express a deep gratitude to his indefatigable, influential spirit for shaping TCS and the fabric of TCS culture,” he said, according to the financial news website.

TCS CEO Rajesh Gopinathan said the company braved the pandemic well by inculcating digital transformation in its technological infrastructure. He said during the tough times of Covid-19, the company is also innovating its business model by focusing on both analytics and data, followed by the cloud ecosystem.

Gopinathan said these initiatives will give the company a “long-term visibility in overall demand environment”.

The company is also not shying away from investing in human resources despite the pandemic. Gopinathan said TCS is at the forefront of job creation. The IT giant’s total employee strength has reached 4.88 lakh.

TCS has also contributed Rs 273 crore for Covid-19 relief in collaboration with Tata Trusts. The company’s research and development (R&D) wing is currently associated with 72 pandemic-related initiatives, both at home and globally, which include Covid data management, diagnostic kits, and drug candidate molecule discovery.

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Source: News18