TCS, HCL and Infosys among top brands in the top 10 IT services category

Indian IT giants Tata Consultancy Services (TCS), HCL Tech and Infosys were ranked among the top 10 brands in the IT services category in the Brand Finance 2024 report. 

The top 10 IT brands according to Brand Finance IT Services 2024 report are: 

Accenture 

TCS 

Infosys 

IBM 

Capgemini 

NTT Data 

Cognizant 

HCL Tech 

Wipro 

Fujitsu (IT Services) 

With a market capitalisation of $19,165 million in 2024, Tata Consultancy Services was ranked second after global consulting giant Accenture on the list. The company retained its AAA- rating on the list. TCS has retained its ranking owing to significant investment in brand and marketing, as exemplified by its sponsorship of Formula E racing, according to the report. TCS has also gained visibility from its partnership with sister company, luxury carmaker Jaguar. 

Bengaluru-based IT giant Infosys, whose stock has outperformed indices lately, ranked 3 with a market cap of $14,213 million in 2024. The company’s rating was retained at AAA-. Infosys achieved the fastest annual growth rate in brand value over a 5-year period, according to the report, while Infosys CEO Salil Parekh ranked 1 on the Brand Finance Brand Guardianship Index 2024. 

Noida-based IT consulting giant HCL Tech retained its 8th rank on the Brand Finance rankings for the IT sector in 2024 with a market valuation of $7,574 million. Its rating was raised to AAA- in 2024 from AA+ in 2023. HCL Tech achieved 16 per cent growth in terms of brand value, making it the fastest-growing among the top 10 IT services brands, according to the report.  

Wipro was the only IT services major to have an erosion in brand value by 7.6 percent on a year-on-year basis. Apart from the company’s troubles with turning around the business in challenging macro environment, it also saw more than 10 of its top executives quit in 2023.