TCS rises on inking agreement with ASX
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Tata Consultancy Services is currently trading at Rs. 3526.40, up by 23.75 points or 0.68% from its previous closing of Rs. 3502.65 on the BSE.
The scrip opened at Rs. 3493.95 and has touched a high and low of Rs. 3533.10 and Rs. 3493.00 respectively. So far 38311 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3680.00 on 09-Oct-2023 and a 52 week low of Rs. 3070.30 on 17-Apr-2023.
Last one week high and low of the scrip stood at Rs. 3533.10 and Rs. 3327.00 respectively. The current market cap of the company is Rs. 1290327.88 crore.
The promoters holding in the company stood at 72.30%, while Institutions and Non-Institutions held 22.53% and 5.17% respectively.
Tata Consultancy Services (TCS) has signed an agreement with Australia’s primary securities exchange, ASX, to provide a next generation clearing and settlement platform to service the Australian market. ASX will implement TCS’ flagship product TCS BaNCS for Market Infrastructure to enable the transformation.
The TCS product will be used to replace ASX’s existing platform for cash equities clearing and settlement. The new platform will be on a state-of-the-art technology stack with TCS BaNCS for Market Infrastructure and is proposed to be implemented in two releases. While the clearing service is expected to be delivered in the first phase, the settlement depository and sub?register services will follow in the second phase. This staged approach is expected to reduce overall delivery risk and help manage the impact on industry stakeholders.
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.
