TCS shares gain after launching first Generative AI aggregator platform

Shares of Tata Consultancy soared 2.2 per cent at Rs 3,915 per share on the BSE in Friday’s intraday trade. 

This came after India’s largest information-technology (IT) services player launched TCS AI WisdomNext, a platform that aggregates multiple generative artificial intelligence (GenAI) services into a single interface and enables organisations to rapidly adopt next-gen technologies at scale, lower costs and within regulatory frameworks. 

The platform, which is a first in its category for the country, will remove barriers for customers to develop and launch business solutions, allowing for real-time experimentation across vendor, internal, and open-source LLM models, TCS said in an exchange filing on Friday. 

“TCS AI WisdomNext helps our customers take advantage of GenAI to unlock the full potential of their data, drive greater business innovation and efficiency, and gain a competitive edge. We are solving business problems and helping our customers redefine what it means to harness the power of GenAI,” said Siva Ganesan, Head, AI.Cloud Unit, TCS. 

TCS reported a net profit of Rs 12,434 crore, up 9.1 per cent year-on-year (Y-o-Y). Sequentially, profit after tax grew 6 per cent from Rs 11,735 crore. Revenue for the quarter was up 3.5 per cent Y-o-Y at Rs 61,237 crore. On a sequential basis, it was up 1 per cent.

TCS signed one of its highest total contract values (TCV) — $13.2 billion — in the fourth quarter of FY24. For FY24, TCS had an order book of $42.7 billion, the highest ever.

At 12:14 AM, TCS  was trading 1.29 per cent higher at Rs 3901.80 per share on the BSE. By comparison the BSE Sensex climbed up by 1.83 per cent. The stock of the company is presently trading at a price to earnings multiple of 31.82 times with an earning per share of Rs 120.39.