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TCS signs a contract with Shanghai Rural Commercial Bank
TCS has signed a contract with Shanghai Rural Commercial Bank to implement TCS’s core
banking solution, BaNCS, to achieve competitive advantage. This solution will cover the
bank’s core banking, deposits, loans, payments and card modules. It will help the
Shanghai Rural Commercial Bank to swiftly introduce new products to the market and
efficiently manage transformation across its overall business lines.
TCS’s BaNCS will replace several solutions with one modern, transaction-safe and
cost-efficient platform. This deal would augur well for TCS to scale its revenue from the
BFSI vertical, which currently contributes 44.6% to the company’s revenue and grew by
8.4% in the last quarter. At the current CMP of `1,093, the stock is trading at 21.2x
FY2012E EPS of `51.5. We maintain Buy on the stock with a target price of `1,287.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
TCS signs a contract with Shanghai Rural Commercial Bank
TCS has signed a contract with Shanghai Rural Commercial Bank to implement TCS’s core
banking solution, BaNCS, to achieve competitive advantage. This solution will cover the
bank’s core banking, deposits, loans, payments and card modules. It will help the
Shanghai Rural Commercial Bank to swiftly introduce new products to the market and
efficiently manage transformation across its overall business lines.
TCS’s BaNCS will replace several solutions with one modern, transaction-safe and
cost-efficient platform. This deal would augur well for TCS to scale its revenue from the
BFSI vertical, which currently contributes 44.6% to the company’s revenue and grew by
8.4% in the last quarter. At the current CMP of `1,093, the stock is trading at 21.2x
FY2012E EPS of `51.5. We maintain Buy on the stock with a target price of `1,287.
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