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TCS jumps up on expanding partnership with Phoenix Group

Tata Consultancy Services is currently trading at Rs. 2153.95, up by 54.25 points or 2.58% from its previous closing of Rs. 2099.70 on the BSE.

The scrip opened at Rs. 2110.20 and has touched a high and low of Rs. 2155.95 and Rs. 2110.20 respectively. So far 25325 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 2296.00 on 03-Sep-2019 and a 52 week low of Rs. 1787.00 on 26-Nov-2018.

Last one week high and low of the scrip stood at Rs. 2210.80 and Rs. 2091.30 respectively. The current market cap of the company is Rs. 806012.23 crore.

The promoters holding in the company stood at 72.05%, while Institutions and Non-Institutions held 23.79% and 4.17% respectively.

Tata Consultancy Services (TCS) has expanded partnership with Phoenix Group to cover an additional 4.2 million policies. This will expand the overall scope by a further 4.2 million policies, taking the total number of policies managed by Diligenta, TCS’ regulated subsidiary in the UK, on behalf of Phoenix Group, to nearly 10 million.

The transformation is expected to take approximately three years to complete, with a number of Standard Life Assurance employees transferring to TCS by the end of that period. A key element of the partnership is TCS’ commitment to expand its already significant Scottish presence and establish a TCS technology and operations service hub in Edinburgh with a skilled team of experts from Standard Life. Additionally, the hub will provide opportunities for Standard Life’s and TCS’ product experts to collaborate with end-users to envision new offerings.

Tata Consultancy Services is an IT services, consulting and business solutions provider that has been partnering with the world’s largest businesses in their transformation journeys for the last fifty years.

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