TCS gains after winning order

TCS rose 0.63% to Rs 2,490.50 at 9:19 IST on BSE after the company said that its UK-based subsidiary Diligenta secured a 15-year deal from Scottish Widows.

The announcement was made after market hours yesterday, 26 September 2017.

Meanwhile, the S&P BSE Sensex was up 53.90 points, or 0.17% to 31,653.66.

On the BSE, 2.02 lakh shares were traded in the counter so far, compared with average daily volumes of 36,000 shares in the past two weeks. The stock had hit a high of Rs 2,493.20 and a low of Rs 2,484.55 so far during the day.

IT major TCS said that its UK-based subsidiary, Diligenta, secured a 15 year partnership with Scottish Widows, Lloyds Banking Group's Life and Pensions business. Diligenta is a leading life and pensions BPS provider in the UK. Under the terms of this agreement, Diligenta will support Scottish Widows to provide end-to-end policy administration services for its 4 million heritage customers. Diligenta will provide Scottish Widows these services based on TCS BaNCS, its digitally-enabled, end-to-end policy administration platform, to manage its assets in life, pensions and investment products.

TCS' consolidated net profit fell 10.13% to Rs 5940 crore on 0.19% decline in net sales to Rs 29584 crore in Q1 June 2017 over Q4 March 2017.

TCS is an IT services, consulting and business solutions organization.

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