Tata Consultancy Services hits all-time high

In a release after market hours on Thursday, country's largest software services exporter said they had entered into a definitive agreement to acquire 100% equity of Computational Research Laboratories (CRL) for a cash consideration of Rs 188 crore (USD 34 million).

N Chandrasekaran, MD & CEO said, "CRL's core capabilities in designing and building high performance environments coupled with our strong focus on cloud-based, domain-rich industry platforms makes TCS very relevant to address the customers' growing requirement of HPC applications."

At 14:26 hours IST, the share was trading at Rs 1,290.60, up 1.03% and its trading volumes increased 21% to 89,873 equity shares as compared to its 5-day average of 74,456 shares.

Market capitalisation of the company currently stands at Rs 252,598.94 crore. On Friday, the stock gained 1.16% to close at Rs 1,277.45.