3 Reasons Why TCS Shares Rose In Today's Trade

Shares of Tata Consultancy Services (TCS) rose over 1% on Wednesday in morning trade. TCS was trading at Rs 3378.25 on the Sensex at 11:23 a.m., up 1.2 percent. Tata Consultancy Services Ltd., founded in 1995, is a Large Cap firm in the IT Software sector with a market capitalization of Rs 1,235,797.58 crore.

At 12.25 pm IST, the stock was seen at Rs 3,369, up 0.82% on NSE. The stock hit an intraday high of Rs 3382 a share, which was just a few rupees behind the 52-week high of Rs3,399 per share.

Here are 3 main reasons why shares of TCS rose in today's morning trade;

Tata Consultancy Services: Quotes, News

BSE 2473.5521.9 (-0.89%)

NSE 2473.9023.2 (-0.94%)

Reason 1

The company announced that Quartz's ledger management solutions have been successfully integrated with Thales to provide customers security for custody, trading, and settlement activities across a varied variety of crypto and digital assets.
Quartz, The Smart Ledgers, is a TCS-backed firm that offers foundational technology, tools, and business components for building distributed ledger solutions in a variety of industries.

While crypto and digital assets are supporting the creation of a tokenized economy, secure custody of these assets remains a worry in the face of an expansion of digital threats and the danger of theft, according to TCS' regulatory filing.

To safeguard cryptographic keys from compromise, Quartz uses Thales Luna Hardware Security Modules, which provide secure encryption, signing, and authentication services.

Reason 2

TCS Optumera, an award-winning AI-powered retail optimization solution, has been recognised a Representative Vendor in the 2021 Gartner Market Guide for Retail Assortment Management Applications: Long Life Cycle Products1.

Reason 3

The 'BaNCS for Treasury' solution from India's largest IT services provider, Tata Consultancy Services NSE 0.92 percent Ltd., has been chosen by Commercial Bank of Kuwait to "manage risk better, expand asset class coverage, and accelerate future growth," the country's largest bank announced on Monday.