Tata Consultancy Services gained 2.41% to Rs 874.15 at 14:37 IST on BSE, after the company announced the launch of its strategic business unit to meet the technology needs of small and medium businesses.
The company made this announcement during trading hours today, 5 March 2008.
Meanwhile, BSE Sensex was up 92.53 points or 0.57% to 16,432.42, as expectations of a US interest rate cut strengthened.
On BSE, 96,705 shares were traded in the counter. The scrip had an average daily volume of 1.94 lakh shares in the past one quarter.
The stock hit a high of Rs 881.35 and a low of Rs 845 so far during the day. The stock had a 52-week high of Rs 1330 on 17 April 2007 and a 52-week low of Rs 730 on 22 January 2008.
The large-cap scrip had underperformed the market over the past one month till 4 March 2008, declining 12.55% compared to the Sensex’s fall of 12.44%. It had also underperformed the market in the past one quarter, declining 17.26% compared to Sensex’s decline of 17.22%.
The company’s current equity is Rs 97.86 crore. Face value per share is Rs 1.
The current price of Rs 874.15 discounts Q3 December 2007 annualized EPS of Rs 48.19 by a PE multiple of 18.14.
In February 2007, Tata Consultancy Services (TCS) signed a multi year contract with Chrysler LLC to provide a comprehensive portfolio of IT services.
Tata Consultancy Services’ net profit rose 2.78% to Rs 1178.99 crore on 5.63% growth in net sales to Rs 4834.37 in Q3 December 2007 over Q2 September 2007.
The company provides IT and business process outsourcing services. The group provides services to industries such as banking and financial services, insurance, manufacturing, telecommunications, retail and transportation.
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