During Thursday’s trading session, the shares of this Tata Group company and a leading IT services, consulting, business solutions & outsourcing firm jumped 1.3 percent to Rs. 4,484.95 on BSE, after signing a 5-year deal with a Denmark-based company to deliver IT infrastructure services.
With a market cap of Rs. 16.15 lakh crores, at 12:02 p.m., the shares of Tata Consultancy Services Limited were trading in the green at Rs. 4,466.35, up by around 1 percent, as against its previous closing price of Rs. 4,427.55.
What’s the news:
According to the latest regulatory filings with the stock exchanges, Tata Consultancy Services (TCS) has extended its partnership with Telenor Denmark (TnDK), the second-largest mobile operator in the Danish market, to provide ITIS-managed services. Over the next five years, TCS will manage TnDK’s IT infrastructure from its delivery centre in Europe.
Over the past six years, TCS has deployed its Machine First Delivery Model to modernize TnDK’s IT infrastructure, serving over 1.6 million subscribers. With this extended partnership, TCS will continue to deliver advanced automation technologies, ensuring significant operational cost reductions and improved IT infrastructure.
The key highlight of this partnership is the assurance of uninterrupted business continuity with zero impact on operations. TCS will leverage its extensive experience managing TnDK’s infrastructure to enhance digital assets, including advanced automation solutions, optimizing operations and improving user experiences.
Financials:
TCS reported a marginal growth in revenue from operations, experiencing a year-on-year rise of nearly 7.8 percent, from Rs. 59,692 crores in Q2 FY24 to Rs. 64,259 crores in Q2 FY25.
Similarly, its net profit increased during the same period from Rs. 11,380 crores to Rs. 11,955 crores, representing a rise of nearly 5 percent YoY.
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Stock Performance:
The stock has delivered positive returns of nearly 21.6 percent in one year, as well as around 16.5 percent returns in the last six months. So far in 2024, the shares of TCS have given positive returns of about 17.2 percent.
About the company:
Tata Consultancy Services (TCS) Limited, a part of the Tata Group, is engaged in providing IT services, consulting and business solutions. It offers a consulting-led, cognitive-powered, integrated portfolio of IT, business and engineering services and solutions.
TCS has established itself as a leader in the CMI Services industry over the past 25-plus years and is engaged with over 160 telecom companies across the globe. Its capabilities in the industry include digital transformation, APIfication, cloud services, network services, infrastructure services, automation, agile/DevOps, data and analytics.
Written by Shivani Singh
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