TCS surges 1.5% on entering into strategic partnership with Salling Group

Shares of India’s largest IT company, TCS, traded 1.5% higher on Monday after the company announced a long-term strategic partnership with the Salling group.

Tata Consultancy Services (TCS) has entered into a long-term strategic partnership with Salling Group to drive sustainability, technology innovations and improve organisational efficiency. The collaboration will cover Salling Group’s 2,100 stores, brands and 68,000 employees across Denmark, Poland, Germany, Estonia, Lithuania and Latvia, including BR, a nationwide toy store chain, franchise quick-service restaurants Carl’s Jr. and Starbucks, and grocers Fotex, Bilka, Netto and RIMI Baltic.

As part of this partnership, TCS will help the Salling Group’s cloud adoption journey and subsequently stabilise the operations with the aim of driving more agility, scalability, and sustainability. Additionally, TCS will support the retail group’s digital transformation, focusing on enhancing the e-commerce platform to be more responsive to the evolving consumer demands.

Earlier this month, the company also expanded its two-decade-long strategic partnership with Virgin Atlantic, a premium long-haul UK airline, to accelerate its digital transformation journey. Under this renewed seven-year agreement, the two organisations will deepen their collaboration to strengthen the technological foundations of Virgin Atlantic, enable modern airline retailing, deliver greater operational resilience, and enhance customer experience.

In the latest quarter, the company’s topline for the quarter grew by 5.29% YoY to ₹64,479 crore as against ₹61,237 crore in the previous year’s similar quarter. The net profit for the quarter stood 2% lower at ₹12,293 crore as against ₹12,502 crore.

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