TCS moves up after winning client

TCS rose 1.27% to Rs 2,322.25 at 11:10 IST on BSE after the company said that Vattenfall has selected the company as a strategic partner.

The announcement was made after market hours yesterday, 2 May 2017.

Meanwhile, the S&P BSE Sensex was up 21.35 points or 0.07% at 29,942.53.

On the BSE, 39,754 shares were traded on the counter so far as against the average daily volumes of 97,192 shares in the past one quarter. The stock had hit a high of Rs 2,324.80 and a low of Rs 2,271.45 so far during the day.

The stock had hit a 52-week high of Rs 2,740 on 16 August 2016 and a 52-week low of Rs 2054.70 on 15 November 2016. It had underperformed the market over the past one month till 2 May 2017, sliding 5.72% compared with the Sensex's 1.02% gains. The scrip had also underperformed the market over the past one quarter, advancing 3.91% as against the Sensex's 6% rise.

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

TCS said that it has been selected by one of Europe's largest utilities companies - Vattenfall- to provide IT services across multiple European operations including Swedan, Germany and the Netherlands.

The managed services agreement is a multi-year partnership in which TCS will be responsible for the development and maintenance of a large number of applications.

Vattenfall AB is a Swedish, integrated energy company that supplies a broad range of energy services spanning from sales and heat to distribution and generation.

TCS' consolidated net profit fell 2.81% to Rs 6622 crore on 0.31% decline in net sales to Rs 29642 crore in Q4 March 2017 over Q3 December 2016.

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

Powered by Capital Market - Live News