Business Daily from THE HINDU group of publications
Saturday, Oct 27, 2007
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Business Daily from THE HINDU group of publications Saturday, Oct 27, 2007 ePaper | Mobile/PDA Version |
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Software Info-Tech - Off-shore Development
Our Bureau Mumbai, Oct. 26 Tata Consultancy Services (TCS) is launching a new subsidiary to further strengthen its focus and expand operations in South Africa. Christened TCS South Africa, the new subsidiary is in line with the company’s strategy to have a direct presence in the countries in which it operates, TCS said in a communication to the BSE. TCS South Africa will have equity participation from Black Economic Empowerment groups in South Africa, the note added. “We see South Africa as a key strategic market for TCS and also as a gateway to southern and central Africa. Through our own subsidiary, we will be well-placed to contribute to the economic growth of the country and its businesses”, said Mr S. Ramadorai, Chief Executive Officer and MD, TCS. South Africa is a key strategic market for the $29-billion Tata Group with the presence of multiple firms including Tata Motors, Tata Steel and VSNL. “The South African operations will emerge as a hub to serve customers in the southern and central parts of Africa,” Mr N. Chandrasekaran, Chief Operating Officer and Executive Director, said. Since 1995, TCS has been working with leading companies to offer consulting, application development, and technology outsourcing services to firms in South Africa Reacting to the development, the company’s scrip was up by 1.88 per cent to close at Rs 1,069.95 on the BSE today. More Stories on : Software | Off-shore Development | Tata Consultancy Services Ltd
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