TCS gains on bagging order from Singapore’s People’s Association

Tata Consultancy Services (TCS), part of the salt-to-software conglomerate Tata Group, has received a multi-million dollar Application Management Services (AMS) contract from Singapore’s People’s Association, a statutory board under the ministry of community development, youth and sports.

The scrip is currently trading at Rs 614.70, up by 4.30 points or 0.70% on the BSE.

The stock opened at Rs 615.00 as compared to its previous close of Rs 610.40. Intraday, the counter touched a high and a low of Rs 619.90 and Rs 612.50 respectively.

So far, 91,708 shares of the company were traded on the BSE.

The stock touched its 52-week high of Rs 805 on June 10, 2009 and a 52-week low of Rs 355.25 on June 23, 2009.

The scrip has gained by 3.97% since the past one week and by 13.73% since the last one month.

Indian IT major will develop and maintain People’s Association’s business & citizen centric applications including mission critical applications for two years under the contract.

This will help the Singapore-based entity to enhance its process efficiency and staff productivity across the organization.

TCS, which entered the Singapore market around two decades back, today has over 30 customers including Singapore Airlines, Citi Bank Asia Pacific, General Electric (GE), Singapore Exchange, Temasek Holdings, Government of Singapore Investment Corporation (GIC), Standard Chartered Bank, ING Bank, among others.