TCS gains after getting upgraded to strategic partner for Royal HaskoningDHV

TCS rose 1.30% to Rs 2,028.95 at 14:02 IST on BSE after the company said it was upgraded to strategic partner for Royal HaskoningDHV on the basis of delivering exceptional results.

The announcement was made during trading hours today, 16 December 2013.

Meanwhile, the BSE Sensex was down 6.35 points, or 0.03%, to 20,709.23.

On BSE, so far 50,000 shares were traded in the counter, compared with an average volume of 1.13 lakh shares in the past one quarter.

The stock hit a high of Rs 2,035.85 and a low of Rs 2,005.60 so far during the day. The stock hit a record high of Rs 2,258.05 on 15 October 2013. The stock hit a 52-week low of Rs 1,197.60 on 18 December 2012.

The stock had underperformed the market over the past one month till 13 December 2013, sliding 2.40% compared with the Sensex's 2.58% rise. The scrip had also underperformed the market in past one quarter, rising 2.70% as against Sensex's 4.98% rise.

The large-cap IT company has an equity capital of Rs 195.87 crore. Face value per share is Re 1.

TCS announced that it had fully integrated the ICT infrastructure of Royal Haskoning and DHV in a record time of six-months. Royal Haskoning and DHV merged in 2012 under the new name Royal HaskoningDHV and are recognized as one of the world's leading consulting engineering firms.

Due to the swift and successful integration, TCS has been upgraded to "strategic partner" for Royal HaskoningDHV.

Eric Overvoorde, CIO of Royal HaskoningDHV, remarked: "TCS has constantly raised the bar with its strong expertise and has helped Royal Haskoning in the past to expand its global footprint. This ICT integration in a record time of six-months is a great milestone. We are confident with TCS as a strategic partner; we will deliver value added services to our clients and further widen our global reach."

Amit Kapur, Regional Director and Head of Benelux at TCS, said: "As strategic partner to Royal HaskoningDHV, we remain highly focused on enabling their future objectives."

Separately, TCS announced during trading hours today, 16 December 2013, that CUA - Australia's largest customer owned financial institution has implemented TCS BaNCS to reengineer its core banking and Online Banking system. The new solution expands CUA's capability to deliver more flexible and innovative products and services to customers. TCS BaNCS will also enable CUA to improve internal processes and efficiencies as well as facilitate enhanced customer service.

On a consolidated basis, TCS' net profit rose 20.7% to Rs 4633 crore on 16.6% growth in revenue to Rs 20977 crore in Q2 September 2013 over Q1 June 2013.

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

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