TCS rises on purchase of French IT provider Alti
The acquisition signals Indian software service exporters' interest in diversifying its revenue base, analysts said.
Mumbai: Shares in Tata Consultancy Services rose as much as 2.2 per cent on Tuesday after the company announced it will buy privately-held Alti SA of France for 75 million euros.
The acquisition signals Indian software service exporters' interest in diversifying its revenue base, and the acquisition could potentially help increase profits at TCS, analysts said.
TCS shares were up 2 per cent as of 12:36 pm.
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