Tata Consultancy Services soars on obtaining government nod for Indore SEZ

25 Jan 2012 Evaluate

TCS is currently trading at Rs. 1104.00, up by 16.35 points or 1.50% from its previous closing of Rs. 1087.65 on the BSE.

The scrip opened at Rs. 1092.00 and has touched a high and low of Rs. 1105.90 and Rs. 1090.50 respectively. So far 74864 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1247.00 on 06-Apr-2011 and a 52 week low of Rs. 902.90 on 22-Aug-2011.

Last one week high and low of the scrip stood at Rs. 1105.90 and Rs. 1066.00 respectively. The current market cap of the company is Rs. 215979.34 crore.

The promoters holding in the company stood at 74.08% while Institutions and Non-Institutions held 21.08% and 4.84% respectively.

Tata Consultancy Services (TCS), IT software major obtained nod from government to set up a Special Economic Zone at Indore, Madhya Pradesh, even as it allowed Videocon group to pull out from its SEZ project at Jalpaiguri in West Bengal.

The company has got green signal at a time when SEZs have lost sheen as a vehicle of investment in the wake of imposition of Minimum Alternate Tax (MAT) on the SEZ developers and units in the zones. Slowdown in the realty market has also added to the uncertainty among the developers.

TCS is likely to provide jobs to at least 10,000 local engineers as per the condition set by the state government for providing land at subsidized rates to the IT giant. By 2013 the project is expected to be operational and it will employ more than 25,000 people directly and equal number indirectly.

TCS Share Price

3883.55 46.05 (1.20%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
TCS 3883.55
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