This IT stock rallied in the market today after it partnered with Dassault Systemes. The initiative is taken to unite an ecosystem of educators and practitioners to develop and validate realistic digital models of the human heart in the field of cardiology.
Share price of TCS opened at Rs. 3492 levels and traded a percent higher to reach its intra- day high of Rs. 3515 levels. The stock has returned 6.05% in the last six months and 39.71% in the last three years.
On 11 September 2023, the company announced its partnership with Dassault Systemes through its living heart project in order to create accurate digital models of the human heart through an exchange filing. TCS joined the project to help and transform the digital journeys for both companies.
“As an industry partner, TCS will use its domain and technology expertise, and its research on the Digital BioTwin of the heart to contribute to model refinement, simulation, and technological implementation in developing and validating highly accurate, personalised digital human heart models.” the report mentioned.
As per the financials of the company, it made a revenue of Rs. 59162 crore in Q4FY23 which increased 0.3% to Rs. 59381 crore in Q1FY24. Its net profit saw a decrease of 2.7% from Rs. 11392 crore in Q4FY23 to Rs. 11074 crore in Q1FY24. The company is debt- free and maintains a low debt ratio of 0. It has also maintained a good average ROE for the last three years of 43.31
Tata Consultancy Services, one of the leading companies in the Tata Group conglomerate was established in the year of 1968 offering their services in IT, consulting and business solutions. The company has consultants worldwide in a minimum of 55 countries.
Written by Bhumika Khandelwal
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