TCS drops ahead of Q4 results

Meanwhile, the S&P BSE Sensex was down 8.30 points or 0.04% at 18,736.63.

On BSE, 2.96 lakh shares were traded in the counter as against average daily volume of 1.13 lakh shares in the past two weeks.

The stock hit a high of Rs 1,500 and a low of Rs 1,432.10 so far during the day. The stock had hit a record high of Rs 1,598 on 7 March 2013. The stock had hit a 52-week low of Rs 1,046.55 on 23 April 2012.

The stock had underperformed the market over the past one month till 16 April 2013, sliding 5.48% compared with the Sensex's 3.51% fall. The scrip, however, outperformed the market in past one quarter, advancing 10.14% as against Sensex's 5.41% slide.

The large-cap IT firm has equity capital of Rs 195.72 crore. Face value per share is Re 1.

On 9 April 2013, TCS said it has signed definitive agreements for the acquisition of 100% equity shares in Alti SA, an IT services company in France, in an all-cash transaction valued at euro 75 million.

TCS said that the acquisition of Alti SA will strengthen TCS' ability and footprint to service its customers in France and other regions in Europe. Alti SA is a leading French technology services firm with strong expertise in IT services including Enterprise Solutions, Assurance and CRM solutions. Alti SA is a privately-held company owned by its management and two private equity funds, CM-CIC LBO Partners and IDI, which supported its growth from a revenue base of euro 64 million in 2007 to euro 126 million in 2012, TCS said. The company's key customers comprise several top French corporations in the banking, financial services, luxury, manufacturing and utilities sectors.

TCS declares Q4 and full year ended 31 Mach 2013 (FY 2013) results today, 17 April 2013. TCS' consolidated net profit rose 3% to Rs 3549.62 crore on 3% growth in sales to Rs 16069.93 crore in Q3 December 2012 over Q2 September 2012.

TCS is an IT services, consulting and business solutions organization. It offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services.

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