TCS shares gain as IT firm launches new IoT engineering lab in Ohio

Tata Consultancy Services (NSE: TCS) shares gained over one per cent in the morning deals on June 12 but pared gains later. The buying interest came after the IT service company launched its Bringing Life to Things Lab in Cincinnati, Ohio. At around 10:17 a.m., shares of TCS traded 0.52 per cent or Rs 19.85 higher at Rs 3,871.9 apiece.

On Tuesday, June 11, the company after market hours, announced that it has launched a new IoT engineering lab in Ohio to accelerate innovation for clients.

Further, the lab is designed to support the rapid prototyping, experimentation, and large-scale implementation of AI, GenAI, and IoT engineering solutions, enabling TCS to assist clients in bringing innovative solutions to life faster and more efficiently. 

As per the filing, spanning across 3,000 square feet, this lab will advance the deployment of TCS’ comprehensive suite of IoT solutions, including TCS Clever EnergyTM, TCS Digital Manufacturing PlatformTM (DMP), and TCS DigifleetTM, among others. These solutions cater to various industries including health care and life sciences, manufacturing, energy and resources, consumer packaged goods, and more. The lab will also help businesses collaborate and co-innovate, integrating physical assets, partner technologies, and customer challenges to create new offerings and solutions.

"TCS’ investment in the Bringing Life to Things Lab in Ohio will help our clients bridge the traditional divide between operational and digital technology by rapidly turning their ideas into minimum viable products that reimagine their value chain at scale," said Amit Bajaj, President-North America, TCS.

Bajaj added with its strategic location in Cincinnati, home of TCS’ largest American delivery center, the lab is well positioned to tap into the area’s tech talent to help our customers across North America.

In addition to serving clients, the lab will engage with the local community through TCS’ smart gardening technology, TCS Grow+. Over 50 employees collaborated to develop a 3,500-square-foot smart garden, leveraging sensor fusion-based IoT technology to monitor plant environments, optimising growth conditions like watering. 

TCS share price: Past performance 

In a year, shares of TCS have gained over 18 per cent against Nifty50's rise of 25 per cent.

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