TCS shares hit a 52-week high: Know driving factors
Shares of Tata Consultancy Services (TCS) reached a 52-week high of Rs. 3,578 today. The stock is up 3% on the Bombay Stock Exchange (BSE), despite a range-bound S&P BSE Sensex. The surge comes after TCS announced its partnership with Dassault Systems for the Living Heart Project. It is an initiative aimed at developing highly accurate, personalized digital human heart models.
A look at TCS's stock prices
TCS's stock has crossed its previous high of Rs. 3,575, which it reached on February 16 this year. To note, its share prices clocked a record high of Rs. 4,043 on January 17, 2022. It is now currently trading at Rs. 3,571.20 (up 2.64%). In the past two trading sessions, TCS has gained 4% after the announcement of its partnership with Dassault Systems.
Living Heart Project welcomes TCS partnership
As an industry partner in the Living Heart Project, TCS will contribute its domain and technology expertise, as well as its research on the Digital BioTwin of the heart. The project unites an ecosystem of cardiovascular researchers, educators, medical device developers, regulatory agencies, and practicing cardiologists. They will develop and validate realistic digital simulations of the human heart.
TCS poised for growth in AI, ML
Despite global macro uncertainties, TCS's size, market leadership position, best-in-asset class execution, and order book (particularly exposure to longer duration contracts) position it to deliver industry-leading growth and margin. The company believes it is well-positioned to benefit from long-term demand in generative AI and machine learning. It will also see higher demand across verticals for productivity enhancement, content creation, and customer interaction.
TCS reports an impressive $10.2 billion TCV
TCS has reported a total contract value (TCV) of $10.2 billion in Q1 FY24, marking another consecutive quarter with a TCV of $10 billion. The company attributes its success to robust demand for cloud migration, digital engineering, product innovation, and enterprise application solutions. Despite short-term uncertainty, TCS remains optimistic about long-term growth prospects.
