Thursday , October 21 2021

Tata Consultancy Services moves up on completing acquisition of GE’s stake in TCS Saudi Arabia

Tata Consultancy Services is currently trading at Rs. 3196.70, up by 16.50 points or 0.52% from its previous closing of Rs. 3180.20 on the BSE.

The scrip opened at Rs. 3190.00 and has touched a high and low of Rs. 3197.65 and Rs. 3174.45 respectively. So far 10132 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 3358.80 on 09-Apr-2021 and a 52 week low of Rs. 1962.90 on 29-May-2020.

Last one week high and low of the scrip stood at Rs. 3218.00 and Rs. 3075.00 respectively. The current market cap of the company is Rs. 1176372.32 crore.

The promoters holding in the company stood at 72.19%, while Institutions and Non-Institutions held 23.51% and 4.31% respectively.

Tata Consultancy Services (TCS) has completed the acquisition of GE’s stake in Tata Consultancy Services Saudi Arabia for $12,471 (about Rs 9.13 lakh). In September 2013, TCS had announced the creation of an all-women business process services centre in Riyadh (Saudi Arabia) in partnership with GE.

In January 2021, TCS had said it will assume full responsibility of the centre upon completion of the required governance and business changes to effect this transition. This, it had said, would secure the centre’s viability in the longer term and allow it to continue to serve as a source of opportunity and skills development for women in the country.

TCS is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years.

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