TCS signs a 10-year strategic partnership with Insper; shares trade higher

Tata Consultancy Services (TCS) has signed a 10-year strategic partnership with Insper, one of Brazil’s leading higher education and research institutions. This collaboration aims to advance industry innovation for TCS customers in South America by leveraging technologies like AI, GenAI, IoT, and spatial computing. The collaboration between TCS and Insper will include academic research work, the development of technology prototypes, and the organisation of seminars, hackathons and technology talks using the TCS Pace methodology for innovation at scale. TCS will offer its customers across the region exclusive access to its cutting-edge research and innovation capabilities, combined with Insper’s academic expertise, ecosystem, labs, and expert resources.

The partnership aims to drive innovation across diverse industries such as banking, financial services, insurance, energy and resources, manufacturing, healthcare and life sciences, among others. Proposed research initiatives include satellite-based geo-sensing to enhance crop yields in Brazil, reducing the downtime in offshore oil rigs, and using AI to accelerate new drug development process. By integrating physical assets and partner technologies and addressing unique customer challenges, TCS will collaborate with clients to co-create new offerings and solutions. These innovations will be tailored to help businesses enhance their digital capabilities, drive operational efficiency, and stay competitive in an evolving market.

Earlier this month TCS also announced a partnership with Nvidia, the world's leading chip maker. Tata Consultancy Services (TCS) has expanded its collaboration with NVIDIA to launch industry-specific solutions and offerings that will help customers adopt artificial intelligence (AI) faster and at scale. These solutions and offerings will be delivered through TCS’s new business unit, which is focused on NVIDIA under its AI. Cloud business unit. TCS’s new business unit has built on a collaboration with NVIDIA for over five years, brings together the complementary capabilities of both organisations and offers tailored offerings for various industries.

In the latest quarterly results for the quarter ended September 2024, the company posted healthy growth across the board. The Revenue for the quarter ended September 2024 of ₹53,990 crore grew by 7.62 % from ₹ 50,165 crore. A robust growth in net profit of 18.89% was reported in the quarter that ended September 2024 to ₹12,994 crore from ₹10,929 crore. Operating profit for the quarter ended September 2024 rose to ₹17,743 crore as compared to ₹15,557 crore of the corresponding quarter ended September 2023.

TCS is an IT services, consulting, and business solutions organization that has partnered with many of the world’s largest businesses. It offers a consulting-led, cognitive-powered, integrated portfolio of IT, business and technology services, and engineering.

Following the news, shares of Tata Consultancy Services jumped to an intraday high of ₹4,107 apiece on the NSE and traded 0.5% higher at ₹4,096 apiece on the NSE at 14:15 pm.