TCS gains after winning deal from Deutsche Lufthansa AG

TCS rose 1.15% to Rs 2,402.55 at 13:30 IST on BSE after the company was selected by Deutsche Lufthansa AG, a leading global aviation group, to provide testing services and help improve the quality of services of existing technology operations.

The company made the announcement during market hours today, 16 December 2015.

Meanwhile, the S&P BSE Sensex was up 197.67 points or 0.78% at 25,518.11.

On BSE, so far 46,919 shares were traded in the counter as against average daily volume of 73,210 shares in the past two weeks.

The stock hit a high of Rs 2,414.55 and a low of Rs 2,385.70 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 stock had outperformed the market over the past one month till 15 December 2015, dropping 0.92% compared with Sensex's 1.13% fall. The scrip had, however, underperformed the market in past one quarter, sliding 6.6% as against Sensex's 1.5% fall.

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

TCS said the multi-year, multi million deal is part of Lufthansa's IT-transformation initiative to accelerate speed to market, improve customer experience and enable innovation and continuous improvement. TCS will pioneer and manage the enterprise testing services by setting up a test factory model across Lufthansa to streamline and standardize their testing processes, reduce capital expenditure and implement next generation services.

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 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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