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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Tata Consultancy Services    TCS   INE467B01029

TATA CONSULTANCY SERVICES

(TCS)
  Report
Delayed Quote. Delayed NSE India Stock Exchange - 01/21 06:16:15 am
3273.85 INR   -1.06%
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Tata Consultancy Services : Deutsche Bank to sell IT unit to Tata as it trims staff

11/09/2020 | 09:02am EST
FILE PHOTO: Logo of Deutsche Bank AG is displayed during the bank's annual news conference in Frankfurt

FRANKFURT (Reuters) - Germany's Deutsche Bank has agreed to sell its IT services division Postbank Systems to India's Tata Consultancy Services, it said on Monday.

Postbank Systems has around 1,500 employees, mainly in the German city of Bonn. The sale is part of Deutsche's plan to shed 18,000 staff overall to cut costs and restore profitability.

Deutsche Bank will pay TCS's integration costs of 120 million euros ($142.69 million) as part of the deal.

"As part of our move to one technology organisation, we are consolidating the IT platform for our retail banking brand Postbank into the Deutsche Bank platform," Deutsche Bank's Chief Technology Officer Bernd Leukert said.

TCS is already an IT services partner for Deutsche Bank and the acquisition will add to TCS's capabilities in the banking domain", N. G. Subramaniam, Chief Operating Officer and Executive Director, said.

($1 = 0.8410 euros)

(Reporting by Arno Schuetze and Patricia Uhlig; Editing by Michelle Adair)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BANK AG -0.32% 9.16 Delayed Quote.2.36%
TATA CONSULTANCY SERVICES -1.06% 3273.85 Delayed Quote.15.58%
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Financials
Sales 2021 1 644 B 22 534 M 22 534 M
Net income 2021 329 B 4 514 M 4 514 M
Net cash 2021 264 B 3 624 M 3 624 M
P/E ratio 2021 37,1x
Yield 2021 1,44%
Capitalization 12 110 B 166 B 166 B
EV / Sales 2021 7,21x
EV / Sales 2022 6,30x
Nbr of Employees 469 261
Free-Float 26,9%
Chart TATA CONSULTANCY SERVICES
Duration : Period :
Tata Consultancy Services Technical Analysis Chart | TCS | INE467B01029 | MarketScreener
Technical analysis trends TATA CONSULTANCY SERVICES
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 40
Average target price 3 259,03 INR
Last Close Price 3 273,85 INR
Spread / Highest target 27,6%
Spread / Average Target -0,45%
Spread / Lowest Target -42,6%
EPS Revisions
Managers and Directors
NameTitle
Rajesh Gopinathan CEO, MD & Non-Independent Executive Director
Natarajan Chandrasekaran Non-Executive Chairman
N. Ganapathy Subramaniam COO & Non-Independent Executive Director
V. Ramakrishnan Chief Financial Officer
K. Ananth Krishnan Chief Technology Officer
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1st jan.Capitalization (M$)
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