TCS ranked fifth in ‘Tech 100’

TCS said it has been ranked fifth overall and topped the list for IT services.

TCS said it has been 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 which did not meet the requirement of minimum capitalisation of USD 1 billion,revenue of at least USD 500 million,an under five per cent decline in revenues from 2008 and 2009 and less than a 50 per cent drop in stock value in the year ending April 30,2010,were eliminated,a press release issued here stated.

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The remaining companies’ revenue and operating income was normalised in order to fairly compare and rank them based on these metrics,weighted at 35 per cent each,as well as total shareholder returns and employee growth,weighted at 20 per cent and 10 per cent,respectively.

The top hundred tech companies were ranked in order of the best weighted scores. With a shareholder return of 150 per cent,TCS jumped from 30th position on last year’s list to fifth place this year,the release said.