Mumbai: IT major Tata Consultancy Services (TCS) on Sunday 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 capitalization of $1 billion, revenue of at least $500 million, an under 5% decline in revenues from 2008 and 2009 and less than a 50% drop in stock value in the year ending 30 April 2010, were eliminated, a press release issued here stated.
The remaining companies’ revenue and operating income was normalised in order to fairly compare and rank them based on these metrics, weighted at 35% each, as well as total shareholder returns and employee growth, weighted at 20% and 10%, respectively.
The top hundred tech companies were ranked in order of the best weighted scores. With a shareholder return of 150%, TCS jumped from 30th position on last year’s list to fifth place this year, the release said.