TCS rallies on block deals
TCS rose 2% to Rs 1,096, on block deals involving 85.05 lakh shares at an average price of Rs 1,075.50 per share.
This constitutes 0.8% of its equity capital of Rs 97.86 crore (face value Re 1 per share). TCS has a large promoter holding of 84%.TCS is one of six Indian companies having a market capitalization of over Rs 1,00,000 crore.
TCS, the largest Indian IT company, is likely to benefit the outsourcing boom. TCS has a wide presence in horizontal (services line), vertical (industry), and geographical domains.Recently, the company won two major contracts. Last week, it won a $90 million IT outsourcing contract from Qantas, an Australian airline. It is the largest deal in the airline space, and the biggest so far for TCS in this space.
Recent reports also suggest that TCS has won a large pharma BPO contract from Eli Lilly, to provide drug development services, including clinical trial data management, statistical analysis and medical writing, to the global pharma major. The multi-year contract is in the range of $30 - 35 million.
TCS is also acquiring companies overseas. Last week, it acquired Australia's TCS Management for Australian $ 1.7 million in cash as upfront payment, with additional performance payments making for a total consideration of Australian $ 15 million over five years.
Just before this acquisition, TCS had acquired 75% stake in Switzerland-based firm, TKS-Teknosoft, for 100.5 million Swiss francs ($80.3 million). TKS acquisition will help TCS expand its product portfolio in the banking and financial services space.
Last month, TCS reported strong Q2 results. Its consolidated net profit grew 15% on a sequential basis to Rs 1,018.68 crore in Q2 September 2006. Consolidated revenue rose 8% to Rs 4,494.83 crore. TCS added 58 new clients in Q2 September 2006. There was a gross addition of 8,919 and net addition of 6,663 employees during the quarter.
This constitutes 0.8% of its equity capital of Rs 97.86 crore (face value Re 1 per share). TCS has a large promoter holding of 84%.TCS is one of six Indian companies having a market capitalization of over Rs 1,00,000 crore.
TCS, the largest Indian IT company, is likely to benefit the outsourcing boom. TCS has a wide presence in horizontal (services line), vertical (industry), and geographical domains.Recently, the company won two major contracts. Last week, it won a $90 million IT outsourcing contract from Qantas, an Australian airline. It is the largest deal in the airline space, and the biggest so far for TCS in this space.
Recent reports also suggest that TCS has won a large pharma BPO contract from Eli Lilly, to provide drug development services, including clinical trial data management, statistical analysis and medical writing, to the global pharma major. The multi-year contract is in the range of $30 - 35 million.
TCS is also acquiring companies overseas. Last week, it acquired Australia's TCS Management for Australian $ 1.7 million in cash as upfront payment, with additional performance payments making for a total consideration of Australian $ 15 million over five years.
Just before this acquisition, TCS had acquired 75% stake in Switzerland-based firm, TKS-Teknosoft, for 100.5 million Swiss francs ($80.3 million). TKS acquisition will help TCS expand its product portfolio in the banking and financial services space.
Last month, TCS reported strong Q2 results. Its consolidated net profit grew 15% on a sequential basis to Rs 1,018.68 crore in Q2 September 2006. Consolidated revenue rose 8% to Rs 4,494.83 crore. TCS added 58 new clients in Q2 September 2006. There was a gross addition of 8,919 and net addition of 6,663 employees during the quarter.
posted by SY at 4:33 PM
1 Comments:
Eli Lilly contract
My issue is Zyprexa which is only FDA approved for schizophrenia (.5-1% of pop) and some bipolar (2% pop) and then an even smaller percentage of theses two groups.
So how does Zyprexa get to be the 7th largest drug sale in the world?
Eli Lilly is in deep trouble for using their drug reps to 'encourage' doctors to write zyprexa for non-FDA approved 'off label' uses.
The drug causes increased diabetes risk,and medicare picks up all the expensive fallout.There are now 7 states (and counting) going after Lilly for fraud and restitution.
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Daniel Haszard
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