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Tata Consultancy Services (TCS) has consolidated its position among the top three most valuable brands in IT services sector, according to global valuation firm Brand Finance.
The IT software major grew its brand value by 1.4 billion dollars -- the highest absolute growth among the 25 companies assessed -- in a challenging year when the brand value of IT services companies collectively dropped by 3 per cent. Besides, at 10 per cent growth over the prior year, TCS outperformed its peers in the top three categories, according to Brand Finance IT Services 25 2021 report. "Along with 10 per cent growth in its brand, its market cap also hit pole position in the industry and it is increasingly closing in on the top two in the IT services sector table," said David Haigh, Chief Executive Officer of Brand Finance. R Rajashree, Chief Marketing Officer of TCS, said the recognition of company's brand strength is a stellar reaffirmation of continued trust that its customers have placed over the years. "By helping them cope with the pandemic and thrive in the recovery, we demonstrated the undisputed power of resilience, collective knowledge and innovation," he said. A part of the Tata group, India's largest multinational business has over 4.69 lakh consultants in 46 countries. (ANI)
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