TCS scales record high

TCS rose 1.34% to Rs 1,870 at 12:27 IST on BSE after the company said it has been selected by Australian Pharmaceutical Industries to deliver a major IT and business transformation program.

The announcement was made during trading hours today, 5 August 2013.

Meanwhile, the S&P BSE Sensex was up 62.56 points or 0.33% at 19,226.58

On BSE, 42,000 shares were traded in the counter as against average daily volume of 1.14 lakh shares in the past one quarter.

The stock hit a high of Rs 1,874.80 so far during the day, which is also its record high for the counter. The stock hit a low of Rs 1,838.20 and a so far during the day. The stock had hit a 52-week low of Rs 1,197.60 on 18 December 2012.

The stock had outperformed the market over the past one month till 2 August 2013, surging 23.03% compared with the Sensex's 1.54% fall. The scrip had also outperformed the market in past one quarter, jumping 29.13% as against Sensex's 2.9% slide.

The large-cap IT firm has equity capital of Rs 195.72 crore. Face value per share is Re 1.

TCS today, 5 August 2013, announced that it has been selected by Australian Pharmaceutical Industries (API), a leading beauty and health retail company in Australia to deliver a major IT and business transformation program whereby TCS will deliver SAP technology to unify and enhance mission-critical IT systems across API's retail and wholesale operations.

Commenting on the development, Deborah Hadwen, CEO, TCS - Australia and New Zealand said, "API is a key win for TCS as it expands our footprint in retail and further demonstrates our leadership as on SAP partner and solution provider of choice. By adopting the combination of TCS services and SAP technology to enhance its IT operations, API will have a state-of-the-art technology infrastructure that will deliver a competitive edge in the fast paced retail marketplace".

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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