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TCS rises on inking definitive agreements with Mitsubishi Corporation

21 Apr 2014 Evaluate

Tata Consultancy Services is currently trading at Rs 2236.00, up by 18.55 points or 0.84% from its previous closing of Rs 2217.45 on the BSE.

The scrip opened at Rs 2225.00 and has touched a high and low of Rs 2242.00 and Rs. 2217.25 respectively. So far 9687 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 2384.20 on 14-Jan-2014 and a 52 week low of Rs 1364.00 on 30-Apr-2013.

Last one week high and low of the scrip stood at Rs 2270.00 and Rs 2101.15 respectively. The current market cap of the company is Rs 434338.14 crore.

The promoters holding in the company stood at 73.90% while Institutions and Non-Institutions held 21.47% and 4.64% respectively.

Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions firm, has signed definitive agreements with Mitsubishi Corporation (MC), one of Japan’s largest integrated business enterprises to merge TCS Japan, ITF and NTSC. TCS will hold 51% in the merged entity, MC to hold 49%. The merged entities will be operational from July 2014.

This transaction will create a new IT services company of significant scale in the Japanese market. ITF brings its long standing relationships with Japanese corporations, talented workforce and competencies in industries like retail, distribution and trading. This will complement TCS’ deep domain knowledge, technology expertise and strong execution track record.

Besides, TCS’ Global Network Delivery Model (GNDM) capabilities will also enable the Japanese corporations’ globalization ambitions. The company will provide tremendous additional value to clients in Japan; while employees will secure the advantages of building their careers in a global organization.

 

TCS Share Price

1982.20 -51.85 (-2.55%)
01-Jul-2026 16:59 View Price Chart
Peers
Company Name CMP
TCS 1982.20
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HCL Technologies 1034.90
Wipro 170.05
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