TCS stock rises 3% on reports of tie-up with Phoenix Group

BL Internet Desk | Updated on November 13, 2019

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Shares of Tata Tata Consultancy Services went up over 3 per cent on the bourses on the back of its announcement of expansion of tie-up with Phoenix Group, Europe's largest life and pensions consolidator.

The stock gained Rs 65.05, or 3.10%, to Rs 2,164.75 on the BSE. At 11.20 am, volumes traded in the counter was 42,000 shares against the two-week average quantity of 1.09 lakh shares on the exchange.

In a notification to the BSE, Tata Consultancy Services, the leading global lT services, consulting and business solutions organisation, said it has expanded its long-term partnership with Phoenix Group, Europe's largest life and pensions consolidator, to drive the growth and transformation of the Standard Life business and meet the needs of its customers, workplace clients and their advisers.

The expanded partnership will result in the digital transformation of Standard Life's pensions and savings operations onto the TCS BFSI Digital Platform, powered by TCS BaNCSTM.

Published on November 13, 2019

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