TCS rises on entering into strategic partnership with Digital unit of JLR
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Tata Consultancy Services is currently trading at Rs. 3445.00, up by 15.15 points or 0.44% from its previous closing of Rs. 3429.85 on the BSE.
The scrip opened at Rs. 3445.95 and has touched a high and low of Rs. 3451.95 and Rs. 3423.00 respectively. So far 26365 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3575.00 on 16-Feb-2023 and a 52 week low of Rs. 2926.00 on 26-Sep-2022.
Last one week high and low of the scrip stood at Rs. 3454.00 and Rs. 3345.00 respectively. The current market cap of the company is Rs. 1260945.69 crore.
The promoters holding in the company stood at 72.30%, while Institutions and Non-Institutions held 22.32% and 5.38% respectively.
Tata Consultancy Services (TCS) has entered into a strategic partnership with the Digital unit of JLR to transform, simplify, and help manage its Digital estate, and build a new future-ready, strategic technology architecture that will support the latter’s Reimagine strategy.
TCS has had a longstanding relationship with JLR Digital, spanning over a decade, helping the luxury automaker optimise as well as pursue its growth and innovation agenda. The new partnership, valued at Pound sterling 800 million over the next five years, builds on this relationship, expanding and deepening it further. TCS will leverage its contextual knowledge, deep domain expertise, proprietary platforms, vast partner ecosystem and future-ready talent pool to help JLR enhance its digital capacity; transform, simplify, and manage its Digital estate; and build a new, future-ready digital core that will support its business transformation.
As a part of the new partnership, TCS will deliver a broad range of services spanning application development & maintenance, enterprise infrastructure management, cloud migration, cybersecurity and data services. By leveraging new technologies to transform core IT operations and adopting new ways of working, TCS will enable a leaner, more agile and scalable operating model. Through synergies and economies of scale with suppliers, this partnership will deliver substantial savings for JLR over the next five years, unlocking free cash flow to reinvest into the future. Outside of the new contract, TCS is partnering with JLR to help accelerate its vision of modern luxury client experience tailored to different markets globally.
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.
