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TCS gains after launching new IT solution

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TCS rose 1.03% to Rs 2,442 at 10:40 IST on BSE after the company announced that it has launched Mobile Network Function Virtualization Management framework for anytime-anywhere NFV monitoring and management for Red Hat OpenStack Platform.

The announcement was made after market hours on Friday, 22 April 2016.

Meanwhile, the S&P BSE Sensex was down 133.21 points or 0.52% at 25,704.93.

On BSE, so far 13,971 shares were traded in the counter as against average daily volume of 80,789 shares in the past one quarter. The stock hit high of Rs 2,448 and low of Rs 2,406 so far during the day. The stock had hit a 52-week high of Rs 2,769 on 5 October 2015. The stock had 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 22 April 2016, falling 2.3% compared with 2% gains in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 5.31% as against Sensex's 5.74% rise.

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

TCS said that Network Function Virtualization (NFV) Management framework is launched to aid the growing demand for network services due to rise of smart devices and increasing mobile data traffic. NFV enables operators to monetize their cloud infrastructure more effectively by providing capabilities to start new services quickly and seamlessly meet changing network demands. It also provide them with the ability to monitor their cloud environment and make critical business decisions in near real time. The TCS framework enables the Network administrators to securely and flawlessly monitor and manage critical operations with Red Hat OpenStack Platform.

TCS' consolidated net profit rose 5% to Rs 6413.12 crore on 4% growth in sales to Rs 28448.61 crore in Q4 March 2016 over Q3 December 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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First Published: Mon, April 25 2016. 10:37 IST