Wednesday, 24 July 2013

Tata Consultancy Services surges on acquiring French IT Services firm ‘ALTI’

Tata Consultancy Services (TCS) is currently trading at Rs. 1776.00, up by 26.20 points or 1.50% from its previous closing of Rs. 1749.80 on the BSE.

The scrip opened at Rs. 1745.00 and has touched a high and low of Rs. 1784.80 and Rs. 1740.00 respectively. So far 53397 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1780.00 on 23-Jul-2013 and a 52 week low of Rs. 1194.35 on 26-Jul-2012.

Last one week high and low of the scrip stood at Rs. 1780.00 and Rs. 1644.90 respectively. The current market cap of the company is Rs. 347651.38 crore.

The promoters holding in the company stood at 73.96% while Institutions and Non-Institutions held 21.57% and 4.47% respectively.

Tata Consultancy Services (TCS), the leading IT services, consulting and business solutions organisation, has completed the acquisition of ALTI SA during an official ceremony under the patronage of Arnaud Montebourg, Minister for Economic Regeneration for the French Republic. The CEO and Managing Director for TCS, N Chandrasekaran, and ALTI’s founders signed the final agreement to commence the integration of ALTI into TCS’ operations in France. This acquisition will boost the company’s strategic growth plans in Europe with the integration of 1,200 employees across France, Belgium and Switzerland. 

Alti SA, a privately-held company with revenues of €126 million in 2012, is regarded as one of the top 5 system integrators of SAP solutions in France. It includes several top French corporations in the banking, financial services, luxury, manufacturing and utilities sectors as its key customers. This strategic investment by TCS will help leverage the strong engineering talent in the country for the benefit of its customers in France and other markets globally. 

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