TCS thrives on buzz of acquisition down under
Software major TCS rose 0.80% to Rs 1,067.80, on reports of having acquired an Australian firm.
A total of 1.44 lakh shares was traded in the counter on BSE. The stock is trading near its 52-week high of Rs 1,175.20, attained on 17 October 2006.
The company is also looking to increase its Asia-Pacific revenue contribution to 7% in the next 2-3 years from about 4.7% at present. Its joint venture with the Chinese government and Microsoft, TCS China, has also started operations.
TCS has 600 people in its 100% Chinese subsidiary, Tata Information Technology. This was set up in '02 and will now be merged with TCS China within the next 12 months. TCS holds a majority 65% stake in TCS China. The Chinese government holds 25% and Microsoft 10%. TCS China will also tap the local Chinese market. The company’s focus will be to provide IT services tasks in the areas of banking, financial services, telecom and engineering services.
The IT major plans to execute work for Japan, Korea and Hong Kong from its China development centres in Hanghzhou, Shanghai and Beijing. It has also set up a subsidiary in Indonesia to serve Taiwan, Hong Kong and Macau.The company plans to offer services to global customers like GE, Axa, Motorola from China and other centres in the Asia-Pacific region.
In Singapore, TCS has set up a 50 people centre for banking technology and has lapped up Deutsche Bank as the first client.Earlier this month, TCS acquired a 75% stake in a Swiss firm, TKS-Teknosoft, for 100.5 million Swiss francs ($80.3 million). TKS' acquisition will helps TCS expand its product portfolio in the banking and financial services space. TCS already had a sales and marketing agreement with the Swiss firm for tapping business opportunities in Switzerland and France. In calendar year 2005, TKS earned revenues of 71.5 million Swiss francs and a net income of 9.6 million Swiss francs. The firm has 115 employees.
TCS reported strong Q2 September 2006 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.
Operating profit rose 22.3%; from Rs 926.46 crore to Rs 1,133.62 crore in Q1 June 2006. Operating profit margin rose sharply to 25.2% in Q2 September 2006, from 22.3% in Q1 June 2006.The promoters holding in the company is 83.69%, as of June 2006.
A total of 1.44 lakh shares was traded in the counter on BSE. The stock is trading near its 52-week high of Rs 1,175.20, attained on 17 October 2006.
The company is also looking to increase its Asia-Pacific revenue contribution to 7% in the next 2-3 years from about 4.7% at present. Its joint venture with the Chinese government and Microsoft, TCS China, has also started operations.
TCS has 600 people in its 100% Chinese subsidiary, Tata Information Technology. This was set up in '02 and will now be merged with TCS China within the next 12 months. TCS holds a majority 65% stake in TCS China. The Chinese government holds 25% and Microsoft 10%. TCS China will also tap the local Chinese market. The company’s focus will be to provide IT services tasks in the areas of banking, financial services, telecom and engineering services.
The IT major plans to execute work for Japan, Korea and Hong Kong from its China development centres in Hanghzhou, Shanghai and Beijing. It has also set up a subsidiary in Indonesia to serve Taiwan, Hong Kong and Macau.The company plans to offer services to global customers like GE, Axa, Motorola from China and other centres in the Asia-Pacific region.
In Singapore, TCS has set up a 50 people centre for banking technology and has lapped up Deutsche Bank as the first client.Earlier this month, TCS acquired a 75% stake in a Swiss firm, TKS-Teknosoft, for 100.5 million Swiss francs ($80.3 million). TKS' acquisition will helps TCS expand its product portfolio in the banking and financial services space. TCS already had a sales and marketing agreement with the Swiss firm for tapping business opportunities in Switzerland and France. In calendar year 2005, TKS earned revenues of 71.5 million Swiss francs and a net income of 9.6 million Swiss francs. The firm has 115 employees.
TCS reported strong Q2 September 2006 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.
Operating profit rose 22.3%; from Rs 926.46 crore to Rs 1,133.62 crore in Q1 June 2006. Operating profit margin rose sharply to 25.2% in Q2 September 2006, from 22.3% in Q1 June 2006.The promoters holding in the company is 83.69%, as of June 2006.
posted by SY at 5:46 PM
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