TCS extends gains after bagging contract

TCS gained 0.65% to Rs 2,602 at 14:25 IST on BSE after the company announced that BMB Investment Bank, Bahrain selected TCS BaNCS for Treasury to drive innovation and enhance customer experience.

The announcement was made during market hours today, 17 October 2017.

Meanwhile, the S&P BSE Sensex was up 21.23 points or 0.07% at 32,654.87.

On the BSE, 22,194 shares were traded on the counter so far as against the average daily volumes of 63,175 shares in the past one quarter. The stock had hit a high of Rs 2,612.95 and a low of Rs 2,581.10 so far during the day. The stock had hit a 52-week high of Rs 2,707.40 on 6 June 2017 and a 52-week low of Rs 2,054.70 on 15 November 2016.

The stock has gained 7.07% in eight sessions to its ruling price, from a close of Rs 2,430.15 on 5 October 2017.

The stock had outperformed the market over the past one month till 16 October 2017, gaining 3.46% compared with the Sensex's 1.12% gains. The stock had also outperformed the market over the past one quarter, gaining 7.77% as against the Sensex's 1.91% rise. The scrip had, however, underperformed the market over the past one year, gaining 9.26% as against the Sensex's 17.92% rise.

The large-cap company has equity capital of Rs 191.43 crore. Face value per share is Re 1.

TCS said that its customer, BMB Investment Bank - Bahrain, as part of its strategy to successfully transform its business reach to a higher network of clients & corporates, has selected TCS BaNCS for Treasury to drive outstanding innovation, customer experience and to streamline and enhance its operations with maximized straight-through processing (STP).

The bank under its new major stakeholders, felt a growing need to optimize its treasury technology. The changing marketplace and its drive to cover international markets accelerated the push to offer innovative products and solutions to their customers. With heightened customer expectations and the internal need to streamline operations, BMB embarked on this treasury technology transformation, the company said in a statement.

TCS BaNCS for Treasury is an integrated, cross asset-class platform for front, middle and back office operations in a treasury function.

Separately, TCS announced that it has launched Connected Clinical Trials (CCT), an innovative software as a service (SaaS) platform that enables pharmaceutical companies to significantly transform patient engagement in clinical trials and improve the efficiency and accountability of the clinical supply process. The announcement was made after market hours yesterday, 16 October 2017.

The platform provides a scalable cloud solution that addresses patients' needs through various clinical trial stages, including enrolment, treatment and follow-up stages.

TCS reported 8.57% rise in consolidated net profit to Rs 6460 crore on 3.23% rise in net sales to Rs 30541 crore in Q2 September 2017 over Q1 June 2017.

TCS is an IT services, consulting and business solutions organization.

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