TCS rose 1.55% to Rs 2,551 at 12:20 IST on BSE after its client, Euroclear Finland launched platform, Infinity powered by TCS BaNCS for market infrastructure.
The company made the announcement during market hours today, 20 May 2015.
Meanwhile, the S&P BSE Sensex was up 144.32 points or 0.52% at 27,789.85.
On BSE, so far 20,802 shares were traded in the counter as against average daily volume of 1.07 lakh shares in the past one quarter.
The stock hit a high of Rs 2,551.95 and a low of Rs 2,520 so far during the day. The stock had hit a record high of Rs 2,834 on 7 October 2014. The stock had hit a 52-week low of Rs 2,000.50 on 19 May 2014.
The stock had outperformed the market over the past one month till 19 May 2015, gaining 1.44% compared with Sensex's 2.8% fall. The scrip had however underperformed the market in past one quarter, declining 6.26% as against Sensex's 6.17% fall.
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The large-cap IT services provider has equity capital of Rs 195.87 crore. Face value per share is Re 1.
Tata Consultancy Services (TCS) announced that its client - Euroclear Finland - the central securities depository (CSD) for the Finnish capital markets, has launched a new transaction processing platform known as 'Infinity'. Infinity's processing capabilities for fixed-income was recently unveiled, following a 22 month implementation of this first phase. The next phases will be rolled out in the course of 2016 and the processing environment will also feature a new central register as well as equity processing capabilities.
Infinity is a multi-year program powered by TCS BaNCS for Market Infrastructure, and is a key component of Euroclear Finland's outsourcing its securities settlement processing to TARGET2Securities (T2S) as part of the European Central Bank's fourth migration wave in February 2017. TCS BaNCS was chosen in 2013 for its established track record in modernizing core infrastructure at leading CSDs worldwide and for its T2S expertise. Through Infinity, TCS BaNCS has provided Euroclear with a single, consolidated platform for depository, registry and corporate actions functions, thereby, enabling simplified business operations.
TCS' consolidated net profit fell 30.31% to Rs 3712.67 crore on 0.83% rise in total income to Rs 25355.98 crore in Q4 March 2015 over Q3 December 2014.
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