TCS bags Rs. 8,300cr deal from Jaguar Land Rover
What's the story
Tata Consultancy Services (TCS) has entered into a strategic partnership with Jaguar Land Rover (JLR) to transform the automaker's digital estate.
The five-year £800 million deal (around Rs. 8,300 crore) aims to create a forward-looking technology infrastructure in line with JLR's "Reimagine" strategy.
TCS will use its IT expertise to offer cutting-edge technology solutions, enhancing JLR's efficiency, sustainability, and competitive nature in the ever-evolving digital services landscape.
Details
TCS stock rises following JLR partnership announcement
Following the announcement of the strategic partnership with Jaguar Land Rover, shares of TCS jumped by nearly 1% in early trade on September 7.
Over the last five years, TCS has given a return of 64.81%, reflecting its strong performance in the market.
At the time of writing, TCS was trading at Rs. 3,435 per stock, up nearly 0.15%.
Prediction
Goldman Sachs gives TCS "Buy" rating; target of Rs. 3,930
In a recent research report, Goldman Sachs has assigned a "Buy" rating to the TCS stock with a target of Rs. 3,930 per share.
The global brokerage firm has also anticipated that TCS will benefit from vendor consolidation and attributed this advantage to the company's extensive vertical expertise.
This positive outlook is expected to further boost investor confidence in TCS.