Tata Consultancy Services gains after it selected by Skanska as strategic partner

Tata Consultancy Services is currently trading at Rs. 3136.95, up by 7.35 points or 0.23% from its previous closing of Rs. 3129.60 on the BSE.

The scrip opened at Rs. 3139.75 and has touched a high and low of Rs. 3159.90 and Rs. 3124.00 respectively. So far 26257 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 3345.25 on 25-Jan-2021 and a 52 week low of Rs. 1620.00 on 23-Mar-2020.

Last one week high and low of the scrip stood at Rs. 3159.90 and Rs. 2986.30 respectively. The current market cap of the company is Rs. 1177442.03 crore.

The promoters holding in the company stood at 72.05%, while Institutions and Non-Institutions held 23.66% and 4.29% respectively.

Tata Consultancy Services (TCS) has been selected by Skanska, one of the world’s leading project development and construction groups, as a strategic partner to help achieve its ambition of becoming the most digitally advanced company in the construction industry. As a part of this multi-year partnership, TCS will leverage its Machine First Delivery Model (MFDM) framework to streamline Skanska’s journey to the cloud and help it transition to a more proactive IT model with automated processes, such as a chatbot for support services.

TCS will also be responsible for the application management of the company’s Oracle Cloud applications across finance, projects, procurement, supply chain, human capital management and analytics planning functions. By moving IT operations to the cloud and driving automation, Skanska’s IT employees will be freed up from routine support activities and can focus on more sophisticated, value-adding tasks.

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.

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