India's largest software services company Tata Consultancy Services (TCS) has surpassed US technology giant IBM in terms of market capitalisation. As of Monday's closing, the market cap of TCS stood at ₹8.37 lakh crore ($120.5 billion) compared to IBM's $119.5 billion. TCS reported revenue of $20.9 billion in the previous fiscal while IBM ended 2018 with $79.6 billion in revenue.