TCS gains as company unveils new software development facility in Gujarat

TCS rose 1.49% to Rs 2055.85 at 10:07 IST on BSE after the company on Saturday, 16 November 2013, announced the launch of its 10,000-seat campus, Garima Park, in Gandhinagar, Gujarat.

The announcement was made on Saturday, 16 November 2013.

Meanwhile, the S&P BSE Sensex was up 272.79 points or 1.34% at 20,672.21.

On BSE, 15,000 shares were traded in the counter as against average daily volume of 1.37 lakh shares in the past one quarter.

The stock hit a high of Rs 2,060 and a low of Rs 2,042 so far during the day. The stock had hit a record high of Rs 2,258.05 on 15 October 2013. The stock had hit a 52-week low of Rs 1,197.60 on 18 December 2012.

The stock underperformed the market over the past one month till 14 November 2013, sliding 8.53% compared with the Sensex's 1.01% fall. The scrip had, however, outperformed the market in past one quarter, surging 10.66% as against Sensex's 5.33% rise.

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

Developed over 25.5 acres of land with a built-up area of 1.6 million square feet, TCS Garima Park is the latest addition to the company's unique global network of software development and delivery centers. It features highly secure software development and delivery centers of multiple sizes to meet the needs of global clients.

N Chandrasekaran, Chief Executive Officer and Managing Director, TCS said, "TCS has played a pioneering role to make Gujarat an attractive IT destination for global companies and also helped drive technology-led growth by investing in talented youth of the state and building long-term partnerships with state institutions. He added, We are delighted to launch our new world-class campus in Gandhinagar. This will help TCS further scale up its presence and drive the expansion of the IT industry in Gujarat".

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.

Powered by Capital Market - Live News