TCS rose 1.87% to Rs 2,055 at 13:09 IST on BSE after the company's chief N. Chandrasekaran told the media that 2014-15 will be better for the company than the ongoing fiscal with uptick in client spending in the US and Europe.
Meanwhile, the BSE Sensex was up 44.28 points, or 0.21%, to 20,703.80.
On BSE, so far 89,000 shares were traded in the counter, compared with an average volume of 1.13 lakh shares in the past one quarter.
The stock hit a high of Rs 2,065.20 and a low of Rs 2,032 so far during the day. The stock hit a 52-week high of Rs 2,258.05 on 15 October 2013. The stock hit a 52-week low of Rs 1,197.60 on 18 December 2012.
The stock had underperformed the market over the past one month till 16 December 2013, sliding 0.42% compared with the Sensex's 1.28% rise. The scrip had, however, outperformed the market in past one quarter, rising 6.07% as against Sensex's 4.65% rise.
The large-cap IT company has an equity capital of Rs 195.87 crore. Face value per share is Re 1.
TCS chief executive officer and managing director N Chandrasekaran was quoted by media on Monday, 16 December 2013, as saying that this year has been good for the company, and he expects 2014-15 to be even better. The company is seeing good growth in Latin America, the US, the UK and Asia, and is preparing itself for this, he said.
He added that initial discussions from clients indicate there will be an uptick in spending, especially in digital space (social, mobile, analytics and cloud). On whether it is safe to assume the worst is over, Chandrasekaran said he does not know for sure. However, the company is seeing some positive momentum for sure, he said, adding companies are seeing growth opportunities and an uptick in discretionary spending is also expected.
He further said that momentum is picking for social, mobile, analytics and cloud (SMAC) technologies, which offer a multi-billion dollar opportunity in revenues for the company in the next 3-5 years.
On Monday, 16 December 2013, TCS announced that it had fully integrated the ICT infrastructure of Royal Haskoning and DHV in a record time of six-months. Royal Haskoning and DHV merged in 2012 under the new name Royal HaskoningDHV and are recognized as one of the world's leading consulting engineering firms.
Due to the swift and successful integration, TCS has been upgraded to "strategic partner" for Royal HaskoningDHV.
Separately, TCS announced during trading hours on Monday, 16 December 2013, that CUA - Australia's largest customer owned financial institution has implemented TCS BaNCS to reengineer its core banking and Online Banking system. The new solution expands CUA's capability to deliver more flexible and innovative products and services to customers. TCS BaNCS will also enable CUA to improve internal processes and efficiencies as well as facilitate enhanced customer service.
On a consolidated basis, TCS' net profit rose 20.7% to Rs 4633 crore on 16.6% growth in revenue to Rs 20977 crore in Q2 September 2013 over Q1 June 2013.
TCS is an IT services, consulting and business solutions organization. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.
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