TCS inches up after launching peer-to-peer mobile payment solution

TCS rose 0.95% to Rs 2,349.40 at 11:25 IST on BSE after the company announced the successful launch of Norway's first peer-to-peer mobile payment solution with DNB, the largest financial services group in Norway.

The announcement was made after trading hours yesterday, 16 March 2016.

Meanwhile, the S&P BSE Sensex was up 164.48 points or 0.67% at 24,846.96

On BSE, so far 8,992 shares were traded in the counter as against average daily volume of 83,212 shares in the past one quarter. The stock hit a high of Rs 2,354.40 and a low of Rs 2,330.10 so far during the day. The stock hit a 52-week high of Rs 2,769 on 5 October 2015. The stock hit a 52-week low of Rs 2,119 on 29 February 2016. The stock had underperformed the market over the past one month till 16 March 2016, gaining 2.63% compared with Sensex's 6.43% rise. The scrip had also underperformed the market in past one quarter, declining 3.31% as against Sensex's 3.18% fall.

The large-cap company has an equity capital of Rs 197.04 crore. Face value per share is Re 1.

With 25% of Norway's population using DNB's peer-to-peer mobile payments application 'Vipps' within six months of launch, the peer-to-peer payment solution has helped DNB become a significant player in the highly competitive mobile payments space in a short space of time, TCS said. The core of mobile solution, created by TCS is its easy operability as a safe and secure payment option, the company said. Vipps makes mobile payments as simple as sending a text message and is available for use on all mobile devices. Another key feature is that it allows short chat messaging between the users, it added.

TCS' consolidated net profit fell 0.02% to Rs 6083.39 crore on 0.68% rise in total income to Rs 28058.19 crore in Q3 December 2015 over Q2 September 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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