TCS rose 0.54% to Rs 2,164 at 12:12 IST on BSE after the company announced that it has won a multi-million, multi-year deal from GDF Suez, a global leader in the energy sector.
The company made the announcement during trading hours today, 25 March 2014.
Meanwhile, the BSE Sensex was down 17.83 points, or 0.08%, to 22,037.65.
On BSE, so far 39,000 shares were traded in the counter, compared with an average volume of 1.17 lakh shares in the past one quarter.
The stock hit a high of Rs 2,172 and a low of Rs 2,130 so far during the day. The stock hit a record high of Rs 2,384.20 on 14 January 2014. The stock hit a 52-week low of Rs 1,364 on 30 April 2013.
The stock had underperformed the market over the past one month till 24 March 2014, sliding 1.19% compared with the Sensex's 5.98% rise. The scrip had also underperformed the market in past one quarter, rising 1.95% as against Sensex's 4.86% rise.
The large-cap company has an equity capital of Rs 195.87 crore. Face value per share is Re 1.
TCS said that this is the first landmark deal won by its new integrated entity which emerged through its acquisition of Alti S.A in July 2013. The engagement will pan across France, Belgium, and the Netherlands to rationalize and standardize CRM and billing applications.
Kumar Narayanan, Director & Country Head, TCS France said, We are privileged to partner with GDF Suez to help them meet their strategic objectives in Europe and globally. This is a first landmark deal, which reinforces the tremendous synergies between TCS' global capabilities and the local talent base as well as knowledge we have secured through our acquisition of Alti S.A. The integrated capabilities allow us to provide a more comprehensive set of services and solutions to help our clients in Europe make their businesses more competitive.
TCS recently unveiled its plans to further activate the capabilities and the talent pool it had acquired, by setting up a new TCS SAP Innovation Center. The center will seek to develop cutting edge enterprise solutions for multiple industries, in co-innovation with TCS' customers. It will be located in the e-de-France region and is expected to be operational later in 2014, the company said in a statement.
TCS has been operating in France since 1992 and has over 50 clients in the country, including several of the CAC 40. Over the last five years, TCS has significantly strengthened its position in the country through local hiring and investments. In recognition of these initiatives, the company had been conferred the special award for Investment and Innovation by the Greater Paris Investment Agency in 2012. The recent acquisition of Alti has propelled TCS into the list of the top IT services firms in the country and was also recognized with the Deal maker of the year 2013 award by Finance Monthly, the company said.
On a consolidated basis, TCS reported 15.1% rise in net profit to Rs 5333 crore on 1.5% increase in revenue to Rs 21294 crore in Q3 December 2013 over Q2 September 2013.
TCS is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.
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