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Tata Consultancy Services Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 4412.35, up 1.33% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.53% on the day, quoting at 24596.05. The Sensex is at 81427.54, up 0.58%. Tata Consultancy Services Ltd has risen around 6.59% in last one month.
Meanwhile, Nifty IT index of which Tata Consultancy Services Ltd is a constituent, has risen around 5.84% in last one month and is currently quoting at 43949.25, up 1.24% on the day. The volume in the stock stood at 14.05 lakh shares today, compared to the daily average of 23.62 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 4424.4, up 1.43% on the day. Tata Consultancy Services Ltd is up 22.43% in last one year as compared to a 17.47% spurt in NIFTY and a 34.74% spurt in the Nifty IT index.
The PE of the stock is 32.84 based on TTM earnings ending September 24.
Tata Consultancy Services has announced a strategic partnership with the Bank of Bhutan to modernize the bank's digital core for enhanced customer service. TCS will implement its TCS BaNCS™ Global Banking Platform to help the bank optimize operations and seamlessly integrate with the various public services within the digital ecosystem of the country.
Bank of Bhutan, the largest commercial bank in Bhutan, has a database of over four hundred thousand customers serviced through 45 branches, with a broad range of financial products and services. TCS has been a technology partner for the bank since 2016, enabling its business growth. Building on this longstanding partnership, TCS will now deploy TCS BaNCSGlobal Banking Platform. The platform will give the bank access to an extensive set of components across the banking and payments sector such as customer deposits, loan management, retail services, trade finance, pricing, and other functions.
Built on an intelligent digital core, TCS' solution will empower the bank to offer new, innovative products to the market quickly and ensure seamless customer experience. TCS BaNCS' rich set of APIs will help the Bank connect to third-party applications in the financial services ecosystem and create a platform to meet future business demands.
Tata Consultancy Services has been awarded the Best Employer Brand in the Corporate Sector at the LinkedIn Talent Awards 2024. This recognition, in the category of large enterprises, underscores TCS' commitment to fostering an engaging, future-ready workplace for its diverse workforce of over 6,00,000 employees across 55 countries. Based on LinkedIn's data-driven methodology, it highlights TCS' ability to leverage the platform's talent solutions to connect with its future and current employees meaningfully, amplify its employer brand, and attract top talent.
Over the last four years, TCS has consistently been ranked No. 1 on LinkedIn's Top Companies to Work for in India, securing a spot among the Top 25 workplaces in the country each year, while continuously revolutionizing workforce development through AI-centric learning and employee engagement initiatives. TCS' comprehensive employee engagement framework emphasizes holistic talent development, continuous learning, and well-being. Over 4,13,000 employees have benefitted from the Elevate Program that integrates learning with career growth, helping employees at all levels build their personal brand. New hires are provided with the necessary tools to help them transition smoothly from campus to corporate life, ensuring they are ready for the industry. TCS is now well on its way to building one of the largest AI-ready workforces in the world and is empowering its employees with AI-centric learning opportunities.
The laboratories will be in the domains of – Sensing and Communications, Edge Computing and Analytics, and Robotics and Visual Computing. Researchers will have access to state-of-the-art equipment at the center enabling them to accelerate innovations in cutting-edge technologies such as edge computing, embedded systems and Artificial Intelligence. This new center serves as a testament to TCS' rich history of collaboration with the academia to create business and societal impact.
The center will anchor TCS-funded research programs that will be launched in partnership with academic partners, including IIT KGP. The TCS Research Center at IIT KGP will also boast of a customer experience center where TCS clients across industries such as mining, agriculture, mobility, healthcare, manufacturing, and retail can gain exclusive experience of original research concepts by TCS. Workshops held at the customer experience center will be open to external participation where TCS scientists, industry subject matter experts as well as the IIT KGP faculty will collaborate to find solutions to industry problems. Building on the strong relationship shared by TCS and IIT KGP, this center will serve as a pioneer for setting up similar labs in the future.
Tata Consultancy Services has signed a three-year extension of its contract for SPARSH (System for Pension Administration – Raksha), a government of India initiative to streamline pension distribution for over 30 lakh defence pensioners. TCS will not only maintain the hardware and software of the programme for three years but also deliver key updates to the system.
TCS started the rollout of pension processing on SPARSH in October 2020, implementing an integrated, secure, and efficient pension disbursement solution for India's defence personnel. The digital transformation has resulted in significantly reduced pension processing timelines from 12 to 18 months to just 14 days. Additionally, first-time pension payments are now processed within five to seven days. A key achievement for TCS has been its role in implementing the One Rank One Pension (OROP) scheme, which ensures that defence personnel of the same rank and length of service receive the same pension, regardless of when they retire. TCS has enabled the processing time to reduce from six to eight months to just two weeks, allowing the disbursement of OROP to 1.8 million eligible pensioners in a record time of 15 days. Recently, The Controller General of Defence Accounts (CGDA) presented TCS with a certificate of appreciation for this accomplishment. As part of the expanded deal, TCS will continue to deliver transparency and efficiency to the pensioners, continuing to support the application and development efforts. Moreover, TCS is also in discussion with the department to potentially develop a digital solution that would allow pensioners to make reverse payments in the event of overpayments.