TCS shares were up on Wednesday amid reports that the Company has formed a joint venture with Japanese giant Mitsubishi Corp.
The stock is currently trading at Rs1221, up Rs21.65 or 2%. The stock has hit a high of Rs 1226 and a low of Rs1213.
The joint venture will provide information technology (IT) services to help Japanese companies to expand their overseas operations, reports said. It will be capitalized at 350 million yen.
Mitsubishi will have a 40% stake in the JV, while the balance stake will be held by TCS' Japanese arm, reports said.