IT major TCS on Thursday said that it has completed the acquisition of GE s stake in Tata Consultancy Services (TCS) Saudi Arabia.In a regulatory filing, the company said that the acquisition was completed on May 26.TCS had announced to acquire .
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11 Indian firms make it to Hurun s top 500 list
Total 11 private Indian firms have made it to the list of 500 most valuable companies across the world, and the country is ranked 10th on the chart, according to a report. The total value of these 11 companies grew 14 per cent and has been pegged at $805 billion or nearly a third of the Indian GDP. Mukesh Ambani-led Reliance Industries leads among the local enterprises with a 20.5 per cent jump in valuation to $168.8 billion as of December 1 and is ranked 54th globally, as per the list.
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Tata Consultancy Services to buy GE s stake In Tata Consultancy Services Saudi Arabia
In 2013, TCS in partnership with GE created the first of its kind All-Women Business Process Services Center in Riyadh (Saudi Arabia).
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The country s largest software services firm Tata Consultancy Services(TCS) today said that it has entered into an agreement with GE for the transfer of the latter s stake in joint venture.
In a regulator filing TCS said, On completion of required governance and business changes to effect this transition, TCS will assume full responsibility of the Women’s Center, securing its viability in the longer term and allowing it to continue to serve as a source of opportunity and skills development for women in the country . 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