Tag: tcs

Tata Sons have pocketed Rs 11,164 crore by tendering 24.81 million shares in the Rs 18,000-crore share repurchase program by the group's flagship firm Tata Consultancy Services (TCS). Meanwhile, Life Insurance Corporation (LIC) tendered 1.17 million shares to take home Rs 528 crore. Small shareholders-those holding shares worth up to Rs 2 lakh-tendered 25.3 million shares in the buyback, 4.22 times the 6 million shares reserved for them in the buyback. All other shareholders tendered 5.7 million, 8.1 times the 34 million shares the company intended to buy back. A total of 977,300 valid applications were made by small shareholders and another 151,377 applications came from all other categories of shareholders, as per a regulatory filing made by TCS. A total of 40 million shares were bought at RS 4,500 apiece in the buyback, which concluded last week. Shares of TCS on Monday closed at Rs 3,706. Read more

The Indian benchmark indices today(21 January 2022) made a sharp recovery in early morning trade after starting the session with heavy losses. The BSE Sensex was now at 59,180, down 284 points. This was nearly 500 points higher from its day's low. The NSE Nifty, on the other hand, was at 18,670, lower by 86 points. The indices were seen recouping losses on the back of buying in FMCG major HUL(up 2 percent), HDFC, TCS, ITC (up nearly 0,5 percent each), and PowerGrid (up 1.6 percent). On the Nifty, Hindalco, Bajaj Auto, Tata Consumer Hero MotoCorp were the additional gainers. Meanwhile, the top losers were Bajaj finserv, Tech M Coal India, Divis Labs, Dr. Reddy's, Adani Ports, Axis Bank, Kotak Bank, and Shree Cement. Sectorally, auto, and FMCG were the only gainers on the Nifty wherein the latter was supported by gains in HUL and Asian Paints on the back of their strong Q3 results.

The Indian benchmark indices today (10th Jan.2021) were firmly holding their opening gains amid broad-based buying and gains in heavyweights ITC, Infosys, and HDFC Bank. The BSE Sensex was up 464 points at 60,209, and the NSE Nifty was higher by 136 points at 17,949. The two indices were up 0.8 percent each. In the broader markets, the BSE MidCap and SmallCap indices were also higher by up to 0.9 percent. Among the top gainers were Maruti (up 3.6 percent), ITC (up 2.1 percent) Infosys (up 1.7 percent), and banking stocks on the Sensex. Further, shares of Tata Consultancy Services (TCS) jumped 3 percent to Rs 3,979.90 on the BSE after India's largest information technology (IT) firm said its board will consider a buyback proposal on Wednesday, January 12, 2022. The stock traded close to its record high level of Rs 3,990 touched on October 8, 2021. Read more

Indian benchmark indices regained their charm after initial weakness today(11th Oct.2021) even as weak global cues weighed on investor morale. Expectation of a better September quarter earnings kept buying intact in most counters.IT stocks were the biggest drags on indices as the underwhelming earnings report by TCS disappointed investors. Rest of the sectors saw heavy buying. After opening in the red, benchmark indices climbed higher. At 10.55 am, BSE flagship Sensex was up 247 points or 0.41 per cent to 60,306. NSE benchmark Nifty advanced 95 points or 0.53 per cent to 17,990. The index hit 18,000 mark during the day. “On the technical front, markets are in a structurally positive trend. Strong support can be seen at 17,700 level and 18,100 level may act as a near-term resistance in Nifty50,” said an expert. Read more

Tata Consultancy Services' share price gained 1 percent on September 9 after Avianca, one of the leading airlines in South America, partnered with the IT firm to accelerate its journey to the cloud.TCS will modernize Avianca's IT infrastructure and build a new cloud-based digital core on Microsoft Azure. "Leveraging its deep domain knowledge of the airline industry and it will utilize its proprietary automation tools and accelerators to drive this transformation programs, TCS will help the airline migrate 129 core applications to the cloud and will also manage the new cloud estate," it said. Some of these tools are TCS Cloud Counsel, a digitized cloud candidature assessment toolset, and TCS Cloud Mason, which helps organizations rapidly define, design, and deploy cloud foundational platforms. The new digital core will provide an integrated environment that will enhance Avianca's business agility, operational resilience, adaptability, and future readiness. Read more

Shares of TCS gained more than 2 percent intraday today and hit a new high of Rs 3,697 on Wednesday and became the second listed company to cross the Rs 13.5 trillion market capitalization (market cap). The stock of the information technology (IT) giant surpassed its previous high of Rs 3,672.50 touched on Monday, August 23, 2021. In one month TCS stock has outperformed BSE Sensex, surging nearly 15 percent, as compared to a 6 percent rise in the benchmark index. TCS is less than 3 percent away to hit the Rs 14 trillion market cap mark. It currently stands at second position in the overall market cap ranking, behind Reliance Industries which has a market cap of Rs 14.51 trillion, including partly paid shares market cap, according to the BSE data. This sector has been consistently performing well with continuous positive momentum. Analysts say that the main reason behind the positive momentum and healthy revenue growth is strong order bookings, broad-based revenue growth, Read more

The Indian benchmark indices fell over half a percent in morning deals today(9th July 2021), tracking weak cues from their Asian peers. The S&P BSE Sensex fell 310 points, or 0.6 percent, to 52,260 levels and the Nifty50 index gave up the 15,700-mark. Axis Bank, indusInd Bank, and Reliance Industries were the top Sensex drags. The stock of TCS was trading 0.85 percent lower at Rs 3,229 at 09:32 am, marginally recouping the morning loss. It had hit a high of Rs 3,274 in opening trade. There is a sudden bout of negative news for markets. The elusive virus, which is foxing even the World's best epidemiologists, has again become a threat with countries like South Korea and Australia imposing fresh restrictions. However, the valuations are excessive and there is room for markets to correct significantly. 'Buy on dips' may not prove to be a good strategy now. Profit booking and increasing the cash component in the portfolio are advisable, according to analysts.

Tata Consultancy Services (TCS) has navigated the pandemic very well, and has earned tremendous goodwill from customers, which enhanced the firm’s standing in the market, N Chandrasekaran, chairman, said in his virtual address of the 26th Annual General Meeting on Thursday. He said, if an investor had invested in TCS IPO investor’s wealth would have increased by 3000% in 17 years. One share of TCS at a price of Rs 850 during the IPO in 2004 would be worth Rs 28000 today, giving shareholders a 3000% return on their investment. On the performance of the company, he said barring the first quarter of the fiscal year, the company delivered a sharp recovery. For FY21, TCS has returned Rs 33,873 crore in dividends and buyback to shareholders, resulting in a payout of 95 per cent of free cash flow.Chandrasekaran also recounted the contribution of FC Kohli, who led TCS during the initial 27 years, navigating multiple technology waves investing continuously in people and in research Read more

Buoyed by an overnight rally in tech stocks in the US, Indian IT stocks caught investor fancy today(10th March 2021). Tech-heavy Nasdaq gained about 4 percent on Wall Street on 9th March with Tesla Inc jumping 20 percent, the most in almost a year, while Amazon.com Inc and Microsoft Corp posted the biggest single-day gains in five weeks. Consequently, the Nifty IT index back home was outperforming the benchmark Nifty50 index. At 11:26 am, the Nifty IT index was ruling 1.4 percent higher at 25,936.5 levels, having touched a high of 25,984 levels in the intra-day deals. Among individual stocks, shares of KPIT Technologies, L&T Technology Services (LTTS), and Mindtree hit their respective record highs on the BSE in intra-day trade. Read more

The markets in India made a strong start to today's(8th January 2021) session, with the Nifty50 index and the MidCap index hitting their fresh record high levels, on the back of firm global cues. The S&P BSE Sensex was up 300 points at 48,410 levels, while the Nifty50 index hit an intra-day high of 14,259, also its fresh record high. Tech Mahindra, Sun Pharma, and Infosys (all up 2%) were the top Sensex gainers. All the Nifty sectoral indices were trading with gains, led by the Nifty IT index, up 1.6 percent. In the broader market, the S&P BSE MidCap and SmallCap indices were trading 0.5 percent 0.9 percent higher, respectively. Information technology (IT) major TCS is among the five companies scheduled to announce their December quarter earnings today. Read more

Tata Consultancy Services on Monday became the only second listed Indian firm after Reliance to reach the Rs 10 lakh crore market capitalization. Shares of Tata Consultancy Services rallied 7 per cent to Rs 2,706 on the BSE in the early morning trade on Monday after the company said it will consider a buyback on Wednesday, October 7, 2020. ICICI Securities believes that TCS has the potential to do a buyback of Rs 20,000 crore, which is around 2 per cent of its market capitalisation. Following the rally in its share price, the company’s market valuation jumped to Rs 10.16 lakh before the trade close.TCS is the second most-valuable domestic firm in terms of market capitalisation. Meanwhile, Reliance Industries Limited is the first Indian film to have crossed the Rs 10 lakh crore market valuation mark. Its market valuation is currently at Rs 15,02,355.71 crore – the highest for any listed company in the country. Read more

Shares of Tata Consultancy Services (TCS) gained 2 per cent to Rs 2,523 in an otherwise weak market on Tuesday after the company said it has expanded its partnership with Morrisons, a leading supermarket chain in the UK, through a five-year contract for application management services, data services and cybersecurity services. Tata Consultancy Services stock surpassed its previous high of Rs 2,538 apiece on September 15, 2020. TCS said the partnership will help accelerate the latter’s plan to simplify and modernise its technology to improve the shopping trip, eliminate wasted effort and become more popular and accessible to its customers. Morrisons selected TCS as its Application – Managed Services partner in 2016, to improve the customer and employee experience. Since then, TCS has worked closely with the retailer to help drive its growth and modernisation agenda across various lines of business, leveraging its comprehensive portfolio of business and technology services and solutions. Read more

Tata Consultancy Services has won a $1.5 billion deal from US pharma retailer Walgreens Boots Alliance (WBA) for a ten-year period to transform its technology operations. This deal is the largest deal in the retail space for the company. One of India's largest IT firm will take over staff, consolidate vendors, run the entire IT operations of the $ 136.9 billion Walgreen Boots, among the world’s largest retailers. The company has dedicated to cost savings for the retailer during the deal period. It will provide managed services like application maintenance and support, infrastructure and security operations.