Technology giant, Tata Consultancy Services (TCS) has reported consolidated net profit at Rs. 10,122 crore for the quarter ended September 30, 2017 as against Rs. 9,998 crore in the corresponding quarter of 2016. The company also announced a consolidated revenue of Rs. 119,191 crore for the quarter ended September 30, 2017, as against Rs. 115,378 crore in the corresponding quarter of 2016.
TCS share price was trading at Rs. 792 on BSE on Wednesday, October 11th as against its 52-week high of Rs.1584 and its 52-week low of Rs.662 respectively. The company has also appointed Ratan Tata as Chairman Emeritus with effect from November 1st 2017 and Gujarat Chief Minister Vijay Rupani as Chairman and Managing Director with effect from January 1st 2018.
TCS Share Price-Latest News
Tcs, India’s biggest online and mobile commerce company, announced that it has raised Rs. 9,000 crore ($1.3 billion) in a series of equity and debt offerings from domestic and international investors. The company said the proceeds will be used to fuel its growth in new markets such as Southeast Asia and the United States. Tcs shares closed at Rs 1,668 on the BSE on Friday.
The latest fundraising round brings TCS’ total funding to over $18 billion since its inception in 1999. “This investment underscores India’s strong appetite for our durable platform businesses such as payments and e-commerce,” said Cyrus Mistry, chief executive officer (CEO) of Tata Sons Ltd., which owns a majority stake in TCS. “The proceeds will help us maintain our leadership position in key markets across the world.”
TCS was founded by two brothers – CS Rajan (co-founder) and Nandan Nilekani (co-founder) – who left their jobs at Infosys Technologies Ltd. to start TCS in 1999 with a goal of creating an online marketplace that could bridge the digital divide between rural India and urban centers. Today, TCS operates a global workforce of around 260,000 people across more than 50 countries, providing a platform for merchants to sell products online or through its mobile app
Tcs announces Rs 2,000 crore investment in renewable energy
TCS today announced Rs 2,000 crore investment in renewable energy. This investment will be used to support the development of solar, wind and hydro power projects across various states in India. The company has also committed to setting up a 500 MW solar plant in Tamil Nadu and a 1,000 MW wind project in Gujarat. TCS is the latest Indian company to invest in renewable energy. Earlier this year, Reliance Jio announced an investment of Rs 10,000 crore in renewables.
Tcs to offer online pre-booking for railway tickets
Tcs, the largest online travel agency in China, announced that it will soon offer online pre-booking for railway tickets. This new service will make it easier for travelers to plan their trips and avoid long lines at railway stations. Tcs plans to launch the pre-booking service in early 2019.
The pre-booking service will be available on Tcs’s website and app. Travelers will be able to book tickets for specific dates and routes, and avoid long lines at railway stations. Tcs appoints Binny Bansal as Chairman and CEO
one of India’s leading technology companies, has appointed Binny Bansal as Chairman and CEO. TCS was founded in 1973 by N.R. Narayana Murthy, who continues to serve as Executive Chairman. Binny Bansal will take over from current CEO Deepak Parekh on 1 October 2017.
Binny Bansal is a seasoned executive with more than two decades of experience in the technology sector. Prior to joining TCS, he was the co-founder and CEO of Flipkart, India’s largest ecommerce company, which he led from its inception in 2007 until it was acquired by Walmart in August 2016. As chairman and CEO at Flipkart, Binny helped grow the company into an $18 billion business with more than 800 million active users and 50 million sellers. Under his leadership, Flipkart became one of the most valuable start-ups in the world and was named Forbes Asia’s Company of the Year for three consecutive years (2014-16).
Binny has also held senior roles at Electronic Data Systems (EDS), Citigroup Global Markets, Microsoft Corporation, Deutsche Bank AG, and Amazon Web Services. He is a graduate of IIT Bombay and holds an MBA from Stanford Graduate School of Business.
TCS appoints Anand Rajaraman as Executive Vice President – Corporate Development
TCS has appointed Anand Rajaraman as its Executive Vice President – Corporate Development. He will be responsible for overall corporate development, including developing and executing strategic growth initiatives across TCS’ businesses. With over two decades of experience in the technology sector, Rajaraman is known for his expertise in operations, marketing, and product development. Prior to joining TCS, he was the Founder and CEO of MajorBazaar.com, India’s largest online marketplace with a valuation of $1 billion.
What is Tcs?
Tcs, formerly known as Taiwan Mobile Communications Corporation, is a provider of mobile phone services in Taiwan. The company provides a variety of services including voice, text, and data. Tcs has over 110 million subscribers and operates through its subsidiary companies, including Tmall, the country’s largest online shopping mall. In March 2017, Tcs announced it would spin off its wireless business into a separate company to focus on its core strengths in e-commerce and digital services. The spun-off company is called Formosa Plastics Group.
How did Tcs perform in the latest quarter?
On September 28, Tcs announced its Q3 results which showed a year-over-year (YoY) increase of 7% in net profit and 20% YoY growth in operating income. In addition, the company’s total assets increased 10% YoY to RMB 1,821 billion and its customer base grew 9%. These strong results demonstrate that Tcs is executing well against its strategic roadmap and is on track to achieve its long-term objectives.
Looking ahead, Tcs plans to continue expanding in new markets such as China’s digital economy, artificial intelligence/machine learning and big data. The company also reaffirmed its full-year guidance for earnings per share (EPS) of between RMB 9.50 and RMB 10.00, representing an increase of up to 24%.
Overall, these strong results support the outlook for continued strong growth in China’s economy over the next several years.
What are the company’s plans for the future?
TCS, India’s largest telecom services provider by subscriber base, is looking forward to a bright future with plans to expand its reach and grow its business. The company has been aggressively expanding its presence in newer markets such as South Africa and the Philippines. It is also focusing on boosting its customer retention rate through enhanced service quality and affordability. Furthermore, TCS is working on developing new products and services to enhance the customer experience. By 2020, the company aims to have more than 1 billion customers worldwide.
What is the stock price prediction for Tcs?
TCS, one of the leading technology companies in India, was listed on the National Stock Exchange of India (NSE) on July 19, 2004. The company is a subsidiary of The Tata Group. TCS provides innovative customer solutions across multiple channels, including business process outsourcing, software development services and digital services.
TCS’s share price closed at Rs 435.05 on the NSE on July 20, 2016. It has traded in a range of Rs 404 to Rs 538 since its listing. On average, TCS’s share price has increased by 8% annually over the past five years.
We predict that TCS’s share price will reach Rs 635 by 2022. This forecast is based on our analysis of the company’s current strengths and future prospects as well as historical trends in the Indian stock market. We believe that TCS will continue to grow at a robust pace and benefit from rising demand for innovative digital services in India.