Tata Consultancy Services | Stock Performance Analysis | Market Updates

Tata Consultancy Services (TCS) has been selected by The British Broadcasting Corporation (BBC), the world’s leading public service broadcaster, to transform its finance and payroll functions, and manage the underlying application estate for greater agility and resilience. 

Under the multi-year partnership, the company will leverage its contextual knowledge, proprietary platforms, partner ecosystem and future-ready talent pool to power the broadcaster’s media business model reimagination and drive growth. The partnership will entail managing individual processes across strategic as well as transactional finance operations, embedding digital technologies in them to improve efficiency, process velocity and process outcomes. Advanced analytics will provide insights that enable better and faster decision-making. 

The company will leverage TCS Cognix, an AI-driven human-machine collaboration suite that provides pre-built, cloud-based modules leveraging AI, machine learning and intelligent automation, and which integrates well with point solutions from multiple partners. TCS will also provide application management and change delivery services for the broadcaster’s application estate supporting the finance, procurement and HR functions. 

Tata Consultancy Services is the flagship company and a part of Tata Group. It is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive-powered, integrated portfolio of business, technology and engineering services and solutions. 

At 2:30 pm, the shares of Tata Consultancy Services were trading at Rs 3475.30, up 0.12% from its previous closing of Rs 3471.00 on the BSE. 

Today, the stock opened at Rs 3457.00 and has touched a high and low of Rs 3478.50 and Rs 3436.00 respectively.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high and low of Rs 3575.00 and Rs 2926.00, respectively. 

Last one week high and low of the scrip stood at Rs 3549.00 and Rs 3352.05 respectively. The current market cap of the company is Rs 12,71,556.94 crore. 

The promoters holding in the company stood at 72.30%, while Institutions and Non-Institutions held 22.35% and 5.35% respectively. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.

Central Bank in the US Chooses TCS BaNCS for Core Technology Modernization

Central Bank, a US-based lender, selects TCS BaNCS to streamline operations and drive organic growth, marking a significant milestone in its digital transformation.

Tata Consultancy Services (TCS), a global IT giant, has secured a significant deal with Central Bank, a regional US-based lender, to modernize its core technology infrastructure. While the size of the deal remains undisclosed, the partnership marks a pivotal moment for Central Bank in enhancing its technological capabilities and customer experience.

TCS BaNCS: Revolutionizing Banking Technology

Central Bank’s decision to leverage TCS BaNCS, TCS’s next-generation banking software suite, underscores the bank’s commitment to simplifying its technology landscape and driving organic growth. The implementation of TCS BaNCS is expected to streamline customer onboarding processes, enabling Central Bank to deliver a frictionless and flexible banking experience to its customers.

A Strategic Partnership for Growth

Central Bank, established in 1902 and managing over $20 billion in assets across multiple states, views its partnership with TCS as a strategic move to enhance its core operations. John Ross, President and CEO of Central Bank, highlighted TCS’s shared commitment to technology and customer experience as key factors in selecting TCS BaNCS for the modernization initiative.

TCS BaNCS: Empowering Financial Institutions

TCS BaNCS, a core banking software suite developed by TCS, is designed to meet the evolving needs of retail banks. With a focus on digital transformation, TCS BaNCS empowers financial institutions to adapt to changing customer expectations and technological advancements, ensuring they remain competitive in the digital age.

Expanding TCS’s Footprint in North America

Amit Bajaj, President of TCS North America, emphasized TCS’s commitment to partnering with regional community banks, credit unions, and financial institutions in North America. TCS’s collaboration with the Central Bank is part of its broader strategy to help financial institutions modernize their core platforms and enhance their digital capabilities.

TCS Q3 Performance

TCS reported positive results for Q3 with revenue growth of 4.0% YoY at Rs 605,830 Mn and 2.9% YoY at $7,281 Mn. Profitability remained strong with operating margin at 25.0% and net margin at 19.4%. Cash flow from operations was healthy at 102.0% of net profit.

The company saw significant growth in its large client base with the number of $1 Mn+ clients increasing by 71 YoY. The order book TCV stood at $8.1 Bn, with North America contributing $4.2 Bn, BFSI $2.6 Bn, and Consumer Business $1.5 Bn. Headcount witnessed a net reduction of -5,680 associates during the quarter, with LTM attrition at 13.3% in IT Services.

Looking Ahead: A Digital Future for Banking

As the Central Bank embarks on its modernization journey with TCS BaNCS, the partnership represents a significant step forward in the bank’s digital transformation. By leveraging TCS’s expertise and innovative banking solutions, Central Bank aims to provide its customers with a seamless and personalized banking experience, driving growth and customer satisfaction.

In conclusion, TCS’s partnership with the Central Bank exemplifies the transformative power of technology in the banking sector. As financial institutions continue to adapt to the digital age, partnerships like these pave the way for a more efficient, customer-centric, and technologically advanced banking landscape.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.

will this have a long term impact?