TCS gains on partnering with Europ Assistance

Tata Consultancy Services is currently trading at Rs. 3975.10, up by 8.75 points or 0.22% from its previous closing of Rs. 3966.35 on the BSE.

The scrip opened at Rs. 3973.60 and has touched a high and low of Rs. 4020.00 and Rs. 3973.60 respectively. So far 119922 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4,020.00 on 05-Feb-2024 and a 52 week low of Rs. 3070.30 on 17-Apr-2023.

Last one week high and low of the scrip stood at Rs. 4,020.00 and Rs. 3782.00 respectively. The current market cap of the company is Rs. 1440433.00 crore.

The promoters holding in the company stood at 72.41%, while Institutions and Non-Institutions held 22.54% and 5.03% respectively.

Tata Consultancy Services (TCS) has been selected as a strategic partner by Europ Assistance, a leading global assistance and travel insurance company, to help reimagine its global IT operating model for enhanced resilience, scalability and user experience.

Supporting nearly 300 million customers in over 200 countries and territories with travel, mobility, home and family, health, and concierge services, Europ Assistance was looking for a global transformation partner to align its IT ecosystem to its mission of providing services ‘Anytime, Anywhere’ and support its growth. As the strategic partner, TCS will step up its delivery centers in Europe and across geographies to provide end-to end enterprise IT application services to Europ Assistance.

The multi-year partnership will also see TCS leveraging its proprietary solution, ignio AIOps from its Digitate suite of offerings to enhance operational resilience and business agility. Powered by AI and ML, the solution will provide Europ Assistance with actionable insights into its technology stack, improving productivity and availability. The partnership will help Europ Assistance scale its business capabilities, support its expanding partnership ecosystem, and enhance its speed to market. In addition, the partnership will focus on co-innovation, with TCS and Europ Assistance working together on novel use cases leveraging generative AI and other advanced technologies.

TCS 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.