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TCS extends Tuesday's gains

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Capital Market
Last Updated : Apr 10 2014 | 8:00 AM IST

TCS rose 1.25% to Rs 1,516 at 9:25 IST on BSE, with the stock extending Tuesday's 1.1% gains triggered by the company signing definitive agreements for the acquisition of 100% equity shares in Alti SA, an IT services company in France.

Meanwhile, the S&P BSE Sensex was up 80.33 points or 0.44% at 18,306.81.

On BSE, 4,768 shares were traded in the counter as against average daily volume of 93,646 shares in the past two weeks.

The stock hit a high of Rs 1,518 and a low of Rs 1,502 so far during the day.

The large-cap IT firm has equity capital of Rs 195.72 crore. Face value per share is Re 1.

Shares of TCS have risen 2.36% in two trading sessions from a recent low of Rs on 1481 on 8 April 2013, after the company during trading hours on Tuesday, 9 April 2013 said it has signed definitive agreements for the acquisition of 100% equity shares in Alti SA, an IT services company in France, in an all-cash transaction valued at euro 75 million. The stock had risen 1.1% to settle at Rs 1497.30 on Tuesday, 9 April 2013.

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TCS said that the acquisition of Alti SA will strengthen TCS' ability and footprint to service its customers in France and other regions in Europe. Alti SA is a leading French technology services firm with strong expertise in IT services including Enterprise Solutions, Assurance and CRM solutions. Alti SA is a privately-held company owned by its management and two private equity funds, CM-CIC LBO Partners and IDI, which supported its growth from a revenue base of euro 64 million in 2007 to euro 126 million in 2012, TCS said. The company's key customers comprise several top French corporations in the banking, financial services, luxury, manufacturing and utilities sectors.

TCS' consolidated net profit rose 3% to Rs 3549.62 crore on 3% growth in sales to Rs 16069.93 crore in Q3 December 2012 over Q2 September 2012.

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

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First Published: Apr 10 2013 | 9:23 AM IST

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