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Tata Consultancy Services has expanded its partnership with Bank of Baroda, India's second largest public sector bank, to continue to implement an end-to-end financial inclusion solution over the next five years. The application can process around 12 lakh transactions a day and will help the bank's 55,000-plus agents better service over 6 crore customers in unbanked areas.
As part of the expanded deal, TCS will deploy its TCS Financial Inclusion Gateway Solution for Bank of Baroda, provide central infrastructure including hardware and software to be deployed in bank data centres, and help with application support and maintenance. TCS will also manage services in change management of application to implement regulatory requirement and bank business requirements for any new services, as and when required.
Apart from supporting banking services such as account opening and IMPS and NEFT transfers, this application will process financial and non-financial transactions such as Aadhaar and Debit card-based transactions. It will also ease the process for enrolment into critical government insurance and pension schemes (Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, Atal Pension Yojana), helping the bank provide better service to its customers in rural and semi-urban areas.
Tata Consultancy Services (TCS) has partnered with Landis+Gyr (SIX: LAND), a leading energy management solutions company based in Cham, Switzerland, to deliver innovative, flexible energy efficiency solutions for utilities. These solutions will empower utilities to help their commercial and industrial customers achieve sustainability goals, improve operational efficiency, and reduce carbon emissions.
Over the next three years, TCS will integrate its award-winning enterprise-level energy and emission management system TCS Clever Energy™ with Landis+Gyr's advanced smart metering and grid management technologies, creating a comprehensive energy management solution for utilities. The partnership will enable utilities to meet the complex energy demands of their commercial and industrial clients while offering them advanced tools to optimize energy usage and achieve sustainability targets. TCS will also leverage TCS Clever Energy to drive energy transformation for Landis+Gyr.
Utilities face increasing pressure to help their customers meet sustainability targets and adapt to changing regulations. The combined capabilities of Landis+Gyr and TCS will enable utilities to offer end-to-end energy efficiency solutions that include real-time energy optimization, demand response, and smart EV charging. These features help utilities empower their commercial and industrial customers to improve energy efficiency, lower emissions, and drive operational excellence. It simultaneously increases utility's ability to integrate renewable energy sources, optimize use of existing infrastructure, and improve grid flexibility.
Tata Consultancy Services has extended its partnership with Telenor Denmark (TnDK), the second largest mobile operator in the Danish market, to provide ITIS managed services, handling TnDK's IT infrastructure from its delivery centre in Europe over the next five years.
Over the past six years, TCS has deployed its Machine First Delivery Model to modernize the IT infrastructure of TnDK, which serves over 1.6 million subscribers. Extending this partnership, TCS' cutting-edge automation technologies will continue to deliver significant operational cost reductions and improved IT infrastructure.
Tata Consultancy Services Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 4412.35, up 1.33% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.53% on the day, quoting at 24596.05. The Sensex is at 81427.54, up 0.58%. Tata Consultancy Services Ltd has risen around 6.59% in last one month.
Meanwhile, Nifty IT index of which Tata Consultancy Services Ltd is a constituent, has risen around 5.84% in last one month and is currently quoting at 43949.25, up 1.24% on the day. The volume in the stock stood at 14.05 lakh shares today, compared to the daily average of 23.62 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 4424.4, up 1.43% on the day. Tata Consultancy Services Ltd is up 22.43% in last one year as compared to a 17.47% spurt in NIFTY and a 34.74% spurt in the Nifty IT index.
The PE of the stock is 32.84 based on TTM earnings ending September 24.