TCS shareholders ALERT! TCS to sign MoU with KINFRA for Rs 1350 crore, CONFIRMS Kerala Industries Minister P Rajeev

Tata Consultancy Services Limited (TCS), the second largest company on Nifty 50 by market cap after Reliance Industries, will soon sign a memorandum with the government of Kerala, said Kerala Industries Minister P Rajeev in the Parliament on Thursday. As per the minister, an MoU worth Rs 1350 crore will be signed between TCS and Kerala Industrial Infrastructure Development Corporation (KINFRA).  

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At market cap of nearly Rs 12 lakh crore, TCS is the only second in the list of Top Nifty50 shares after Reliance Industries, which has a market cap of over Rs 14 lakh crore.   

"Tata Consultancy Service (TCS) will sign an MoU with Kerala Industrial Infrastructure Development Corporation (KINFRA) for Rs 1,350 crore in two phases: Kerala Industries Minister P Rajeev in the Kerala Assembly," tweeted news agency ANI quoting the minister. 

Tata Consultancy Service (TCS) will sign an MoU with
Kerala Industrial Infrastructure Development Corporation (KINFRA) for Rs 1,350 crore in two phases: Kerala Industries Minister P Rajeev in the Kerala Assembly pic.twitter.com/EX8Xf7vFVe

— ANI (@ANI) July 22, 2021

He also said many investors like TCS, V-Guard, and Lullu Group are gearing up to start their ventures in the state. 

"The TCS project will be coming up in 36.38 acre land. The first phase will see an investment of Rs 600 crore and in the second phase Rs 750 crore. The TCS board that met on July 14 has given its approval for the same," he said. 

Regarding other investments, he said V Guard Industries is investing Rs 120 crore while Lulu Group Ra 700 crore for an Electronic Ware House. 

TCS share price on Monday was trading at Rs 3,218.10, up Rs 12.30 or 0.38% on Thursday at 2:50 pm.  

TCS stock hit a record 52-week high of Rs 3,399.65 and has 52-wk low of Rs 2,125.10