TCS plans to get out of non-core businesses

 Tata Consultancy Services (TCS), Asia's largest software company, is restructuring operations and exiting non-core areas. The first business that will be on the block is the company's share registry business.

TCS Managing Director S Ramadorai told Business Standard: "We would like to exit certain areas that are non-core (to the main business), especially with some of the services getting commoditised." Ramadorai cited the example of IBM selling its personal computers business.

"We are getting out of the share transfer business and selling it to a third party. An announcement to this effect will be made shortly," Ramadorai said. However, he refused to divulge the name of the buyer. For TCS, the share registry business is a small part of its overall business.

Sources hinted the south-based Karvy Stock Broking was likely to acquire TCS