TCS, Tata Communications shares trade higher after NVIDIA signs pact with Tata group
NVIDIA said that the purpose of the deal is to deliver AI computing infrastructure and platforms for developing AI solutions. The US company said that the collaboration would bring state-of-the-art AI capabilities within reach of thousands of organisations, businesses, AI researchers, and hundreds of startups in India.
TCS, Tata Communications share prices: Stocks of TCS and Tata Communications opened the trading session on Monday (September 11) on a higher note as they were trading in positive territory, two days after Tata Group forged an deal with the world's leading chipmaker, NVIDIA, to develop artificial intelligence (AI).
In a statement on Saturday, NVIDIA said that the purpose of the deal is to deliver AI computing infrastructure and platforms for developing AI solutions.
The US company said that the collaboration would bring state-of-the-art AI capabilities within reach of thousands of organisations, businesses, AI researchers, and hundreds of startups in India.
ZeeBiz takes you through the performance of the stocks of Tata Consultancy Services (TCS) and Tata Communications.
TCS
The share of the computer services company jumped as high as Rs 3,482 in early trading on BSE on Monday.
The share was trading 0.82 per cent, or Rs 28.15, higher at Rs 3471.40, at the time of writing this news.
Last week, the company was selected as Jaguar Land Rover's transformation partner to build future-ready digital services for clients.
In a press statement, TCS said that it would help the luxury carmaker accelerate the modernisation of its IT estate and build a new technology architecture that would support its 'reimagine' strategy.
Even as IT stocks keep struggling, TSC's shares in the last six months have jumped 5.73 per cent, while they have climbed 7 per cent in the last one year.
However, their performance is way below the benchmark index Nifty 50's performance in the last six months, when it soared 16.17 per cent, and in the last one year, when it jumped 11.11 per cent.
Tata Communications
Shares of Tata Communications are trading higher by 1.20 per cent, or Rs 22.70, at Rs 1,909.10 each, in early morning deals on Monday.
In a BSE filing on Friday, the company informed that it had moved the Income Tax Appellate Tribunal against an income tax commissioner court rejecting the company's appeal against a tax demand of Rs 228.49 crore.
The company's share has been performing well for at least the last one year. While its share soared 62.57 per cent in the last six months, the share's rise in the last one year has been 52.56 per cent.
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