Tata Consultancy Services shares climbed 1.5 percent intraday Tuesday after the sharp depreciation in Indian currency and the launch of new solution for airline industry.
The Indian rupee fell more than 110 paise in opening after Urjit Patel resigned as the governor of Reserve Bank of India on Monday evening. Generally any fall in the currency is always positive for export firms. TCS earns major revenues in dollar.
In addition, the country's largest IT services company and Singapore Airlines (SIA), announced the launch of the Intelligent Airline Operations (IAO) Solution that will digitally transform airlines' ground services and operations control.
The company said experts from the two organisations developed the solution using Agile methodologies, adding and releasing new business capabilities and functionality on a continuous basis.
The very first deployment of the IAO solution has been by SIA itself. The solution has been rolled out to SIA's airport management staff, such as station and duty managers, across the globe, it added.
At 13:39 hours IST, the stock was quoting at Rs 2,002.50, up Rs 27.60, or 1.40 percent on the BSE.
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Source: Moneycontrol
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