This Tata group stock reached its 52- week high in the market today after the company announced its partnership with BankID BankAxept AS. The stock saw a potential movement during the trading session.
Share price of TCS opened at Rs. 3,580 levels and traded higher to reach its 52- week high of Rs. 3625 levels. The stock has given a return of 6% in the last month and 20.16% in the last one year.
On the morning of 20 Sep 2023, the company announced its selection by BankID BankAxept AS which is the national payment and electronic identity systems of Norway. TCS has been asked to set up and manage an operations command in order to increase the security, resilience and availability of Norway’s condemning financial infrastructure.
Comparing its financials on a QoQ basis, the company recorded a revenue of Rs. 59,381 crore in Q4FY23 increased 0.3% to Rs. 59,162 crore in Q1FY24. Its net profit of Rs. 11,392 crore reduced 2.7% to Rs. 11,074 crore in Q1FY24. It maintains a low debt to equity ratio of 0 and has a good average for the last three years of 43.31
Tata Consultancy Services under the Tata Group conglomerate is engaged in IT services, business solutions and consulting. It was established back in the year of 1968.
The company provides multiple services such as banking, financial services, education, telecommunications, healthcare, and a few others.
Written by Bhumika Khandelwal
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