TCS gains after Canada's VersaCold selects TAP cloud solution

TCS rose 0.59% to Rs 2,335.50 at 9:24 IST on BSE after Canada's VersaCold Logistics Services selected the Indian IT major's cloud solution to manage its operating cost with greater efficiency.

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the BSE Sensex was up 72.70 points, or 0.28%, to 26,286.14.

On the BSE, so far 1,091 shares were traded in the counter, compared with average daily volumes of 1.14 lakh shares in the past one quarter. The stock had hit a high of Rs 2,338 and a low of Rs 2,325 so far during the day.

The stock hit a 52-week high of Rs 2,740 on 12 August 2016. The stock hit a 52-week low of Rs 2,054.70 on 15 Novembr 2016. The stock had outperformed the market over the past 30 days till 27 December 2016, rising 1.96% compared with the 0.52% fall in the Sensex. The scrip had also outperformed the market in past one quarter, falling 4.19% as against Sensex's 7.35% decline.

The large-cap IT major has equity capital of Rs 197.04 crore. Face value per share is Re 1.

TCS announced that VersaCoId Logistics Services, Canada's largest end-to-end supply chain solutions company for temperature sensitive products has selected TAP, TCS' procure to pay cloud solution, to manage their operating costs with greater efficiency.

On a consolidated basis, TCS reported a 4.51% growth in its net profit at Rs 6603 crore on 0.07% decline in net sales to Rs 29284 crore in Q2 September 2016 over Q1 June 2016.

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

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