TCS shines on buzz of bagging Rs 200 crore deal from the tax department

10 Sep 2013

TCS is currently trading at Rs. 1992.35, up by 4.80 points or 0.24% from its previous closing of Rs. 1987.55 on the BSE.

The scrip opened at Rs. 1990.10 and has touched a high and low of Rs. 2017.00 and Rs. 1975.00 respectively. So far 92,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2075.85 on 04-Sep-2013 and a 52 week low of Rs. 1197.60 on 18-Dec-2012.

Last one week high and low of the scrip stood at Rs. 2075.85 and Rs. 1976.60 respectively. The current market cap of the company is Rs. 3, 89,946 crore.

The promoters holding in the company stood at 73.96% while Institutions and Non-Institutions held 21.57% and 4.47% respectively.

Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions firm, reportedly has piped Infosys in bagging a large deal worth Rs 200 crore for the tax department. The term for the contract is approximately 5 years, but is likely to be extended further.

The deal bagged is to set-up setup and manage a software platform called the ITBA in order to ease tax payers process of tax application, of e-filing etc and also to kind of tighten the noose around tax evasion, etc, something that tax department has been focusing on. Further, this deal is expected to give TCS a big leg up in terms of expanding in this particular area.

Tata Consultancy Services is an IT services, consulting and business solutions organisation that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services.

Related Tata Consultancy Services Ltd. Links:

TCS Share Price

3007.00 -40.70 (-1.34%) Mar 05, 18:59
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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