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TCS gains on inking deal with Europcar

Capital Market / 09:26 , Feb 07, 2012

TCS rose 1.09% at Rs 1,205 at 9:24 IST on BSE after the company said that it signed a multi-year, multi-million euro contract with Europcar, the car rental leader in Europe.

The announcement was made after market hours on Monday, 7 February 2012.

Meanwhile, the BSE Sensex was up 28.01 points, or 0.16%, to 17,735.32.

On BSE, 9,708 shares were traded in the counter as against an average daily volume of 1.69 lakh shares in the past one quarter.

The stock hit a high of Rs 1,208.35 and a low of Rs 1,198.90 so far during the day. The stock had hit a 52-week low of Rs 902.90 on 22 August 2011. The stock had hit a record high of Rs 1247 on 6 April 2011.

The stock had underperformed the market over the past one month until 6 February 2012, gaining 1.79% compared with the Sensex's 11.59% rise. The scrip had, however, outperformed the market in past one quarter, gaining 8.45% as against 0.82% rise in the Sensex.

India's largest IT company by sales has an equity capital of Rs 195.72 crore. Face value per share is Re 1.

The financial details of the deal were not disclosed. Europcar Information Services, Europcar's information technology subsidiary, has selected TCS to manage strategic IT services development for its French operations.

Kumar Narayanan, Director & Country Head, TCS France, said, This partnership with Europcar is part of the development of a strategic relationship with industry leading companies in France. It reiterates TCS' strategic commitment to the region and our ability to create operating models specific to the unique needs of our French clients.

TCS' consolidated net profit rose 21.8% to Rs 2803 crore on 13.5% growth in revenue to Rs 13204 crore in Q3 December 2011 over Q2 September 2011. The result was announced on 17 January 2012.

TCS is an IT services, consulting and business solutions company. It offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services.

 



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