TCS gains after Oman Housing Bank selects banking software

TCS rose 1.27% to Rs 2,359.05 at 12:38 IST on BSE after Oman Housing Bank selected the TCS BaNCS Universal Banking to help deliver an enhanced end-customer experience in endeavor to become a leading housing finance bank in the region.

The company made the announcement during market hours today, 9 December 2015.

Meanwhile, the S&P BSE Sensex was down 108.57 points or 0.43% at 25,201.76

On BSE, so far 39,091 shares were traded in the counter as against average daily volume of 64,000 shares in the past two weeks.

The stock hit a high of Rs 2,363.65 and a low of Rs 2,320.55 so far during the day. The stock had hit a 52-week high of Rs 2,810 on 4 March 2015. The stock had hit a 52-week low of Rs 2,316.65 on 7 December 2015.

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

TCS said that Oman Housing Bank (OHB) will replace home-grown legacy systems with a comprehensive solution from TCS BaNCS covering loans, deposits, origination, payments, funds transfer and compliance. OHB was keen on transforming its technology landscape, and automating processes across myriad functions, TCS said.

TCS BaNCS enables transformation in financial services through a superior and holistic suite of solutions for banks, capital market firms, insurance companies and diversified financial institutions.

TCS' consolidated net profit rose 7% to Rs 6084.66 crore 6% growth in sales to Rs 27165.48 crore in Q2 September 2015 over Q1 June 2015.

TCS is one of the leading 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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