TCS enters into MOU with TRIL

Tata Consultancy Services Ltd (TCS) has announced that the Company and Tata Realty And Infrastructure Ltd (TRIL) have entered into a Memorandum of Understanding (MoU) under which the Company proposes to commission TRIL to develop for the Company properties on land owned / to be owned by the Company. The MoU covers eight properties located at Pune, Trivandrum, Kochi, Ahmedabad, Hyderabad, Kolkata, Nagpur and Mangalore totaling approx. 380 acres acquired / to he acquired by the Company. The properties will he developed in a phased manner over the next few years for the Company. The buildings will he constructed and owned by TRIL (or by Special Purpose Vehicles set up by TRIL) and will be leased to the Company.

The Company is one of the world's leading information technology Companies, engaged in the business of software development and allied businesses. TRIL is engaged in the business of, inter alia, development of real estate and infrastructural facilities. The Company and TRIL are both promoted by, and are subsidiaries of Tata Sons Ltd.

The stock was trading at Rs.1130.90, down by Rs.15.60 or 1.36%. The stock hit an intraday high of Rs.1139.40 and low of Rs.1050. The total traded quantity was 433405 compared to 2 week average of 225366.

Source : Equity Bulls

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