TCS gains on securing a multi-year IT contract

TCS rose 1.36% to Rs 2,013 at 9:17 IST on BSE after the company said it has bagged a five-year multi-million euro deal from Scandinavian Airlines to help transform and optimise its IT processes, applications and infrastructure.

The announcement was made after market hours on Tuesday, 10 September 2013.

Meanwhile, the S&P BSE Sensex was down 137.43 points or 0.69% at 19,859.66.

On BSE, 2,502 shares were traded in the counter as against average daily volume of 1.96 lakh shares in the past two weeks.

The stock hit a high of Rs 2,025 and a low of Rs 1,995 so far during the day. The stock had hit a record high of Rs 2,075.85 on 4 September 2013. The stock had hit a 52-week low of Rs 1,197.60 on 18 December 2012.

TCS said it will implement its proprietary cloud-based solutions to simplify and standardize the Scandinavian Airlines (SAS) IT landscape. The initiative is a part of the SAS 4 Excellence Next Generation strategy, aimed at improving the competitiveness of the SAS Group. Through this partnership, SAS will also tap into TCS' Aviation and Digital Innovation Labs to develop solutions addressing the needs of the new digital consumer.

Amit Bajaj, Head, North Europe, TCS, said, "TCS is pleased to be selected as a strategic partner in SAS' transformation journey to address the new paradigm in the aviation industry, which is characterized by intense competition and demanding customers who are increasingly going digital. Having recently being selected for several transformational engagements such as TDC in Denmark, Posten in Norway, Nokia in Finland and SAS in Sweden and the Nordic region at large, TCS has emerged as a clear partner of choice for Nordic companies looking to reinvent themselves in this new digital age."

Hans-Petter Aanby, CIO, SAS Group said, "We are very pleased to enter into a long-term partnership with TCS, a proven supplier of global expertise in technology and experience in the aviation industry. It is a significant step that will enable SAS to achieve significant goals within the 4 Excellence Next Generation strategy. TCS has built a strong reputation as a partner that drives simplification and business enablement. This agreement will strengthen our long-term competitiveness and enable new digital solutions to drive growth."

SAS is Northern Europe's leading airline with more than 1,100 daily departures to 136 destinations in Scandinavia, Europe, the US and Asia. SAS offers a wide range of innovative travel solutions in order to make customers' travel as time efficient and smooth as possible.

TCS' consolidated net profit rose 6% to Rs 3830.64 crore on 9% growth in sales to Rs 17987.07 crore in Q1 June 2013 over Q4 March 2013.

TCS is an IT services, consulting and business solutions organization. It offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services.

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