TCS rose 0.75% to Rs 2,575.95 at 12:50 IST on BSE after the company said that BNP Paribas Securities Services teamed up with the company to transform asset servicing industry using blockchain technology.
The announcement was made during market hours today, 16 October 2017.Meanwhile, the S&P BSE Sensex was up 120.37 points or 0.37% at 32,553.06.
On the BSE, 32,097 shares were traded on the counter so far as against the average daily volumes of 65,827 shares in the past one quarter. The stock had hit a high of Rs 2,584.75 and a low of Rs 2,556 so far during the day. The stock had hit a 52-week high of Rs 2,707.40 on 6 June 2017 and a 52-week low of Rs 2,054.70 on 15 November 2016.
The stock has gained 5.99% in seven sessions to its ruling price from a close of Rs 2,430.15 on 5 October 2017.
The stock had outperformed the market over the past one month till 13 October 2017, gaining 2.76% compared with the Sensex's 0.77% gains. The stock had also outperformed the market over the past one quarter, gaining 4.61% as against the Sensex's 1.23% rise. The scrip had, however, underperformed the market over the past one year, rising 9.8% as against the Sensex's 17.33% rise.
The large-cap company has equity capital of Rs 191.43 crore. Face value per share is Re 1.
TCS said that its customer BNP Paribas Securities Services teamed up with the company to deliver Corporate Event Connect, an innovative blockchain-based platform, which will provide fast, accurate and secure corporate event announcements to clients around the world.
By leveraging TCS' Quartz blockchain technology, BNP Paribas will be able to capture and store corporate action information in a structured format to ensure data accuracy and rapid diseemination to clients. BNP Paribas Securities Services, a wholly owned subsidiary of BNP Paribas Group, is a leading global custodian and securities services provider.
TCS reported 8.57% rise in consolidated net profit to Rs 6460 crore on 3.23% rise in net sales to Rs 30541 crore in Q2 September 2017 over Q1 June 2017.
TCS is an IT services, consulting and business solutions organization.
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