TCS is the largest IT service provider by revenue in the UK with roughly 18,000 employees and is a significant contributor to the UK economy and to local community initiatives across the country, the company said
In line with practice of returning 80-100 per cent free cash flow to shareholders, TCS has paid out aggregate Rs 33,873 crore in dividend and buyback in last financial year, says Tata group chairman N Chandrasekaran
Shares of Tata Consultancy Services (TCS) traded 1.5 per cent lower at Rs 3,273 on the BSE on Monday, outperforming the market, ahead of its January-March 2021 (Q4FY21) results today. In comparison, the S&P BSE Sensex was down 3.55 per cent or 1,758 points at 47,833, at 1:25 PM. The stock hit an intra-day high of Rs 3,344 and a low of Rs 3,241 on the BSE.
In the past one month, shares of the information technology (IT) giant rose 7 per cent, as compared to 5.7 per cent slide in the benchmark index. However, in the last six months, it has underperformed the market by gaining 16 per cent, against 18 per cent surge in the Sensex.
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TCS to acquire GE s stake in TCS Saudi Arabia
IT major Tata Consultancy Services (TCS) on Tuesday said it will acquire GE s stake in Tata Consultancy Services Saudi Arabia for USD 12,471 (about Rs 9.13 lakh). In September 2013, TCS announced the creation of an all-women business process services centre in Riyadh (Saudi Arabia) in partnership with GE. Given GE s planned exit from this partnership, the partners have entered into a definitive agreement subject to closing conditions for transfer of GE s stake in the venture to TCS, a regulatory filing said.
On completion of required governance and business changes to effect this transition, TCS will assume full responsibility of the centre, it added.
Tata Consultancy Services (TCS) became the first Indian information technology (IT) company and overall the second listed company to cross Rs 12 trillion market-capitalisation (market-cap), on Monday, after reporting a healthy set of numbers for the October-December 2020 quarter (Q3FY21). Shares of TCS hit a fresh record high of Rs 3,224; up 3 per cent on the BSE in early morning trade after brokerages maintained ‘buy’ rating on the stock. The company’s Q3FY21 numbers were above analysts estimates on all fronts. The company said it could return to a double-digit growth trajectory next year. On the National Stock Exchange (NSE), the stock hit fresh all-time high of Rs 3,230, up 3.5 per cent. At 09:19 a.m, TCS market-cap stood at Rs 11.90 trillion, after the stock erased partially its early morning gains on the BSE and NSE. The stock was trading 1.7 per cent higher at Rs 3,172, against 0.67 per cent rise in the S&P BSE Sensex, the exchange data shows. In the past one month,