Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has won the National Intellectual Property Award 2021 & 2022 in the category 'Top Indian Company for Creating Brand in India and Abroad' and the World Intellectual Property Organization's (WIPO's) Users Trophy.
The Indian Intellectual Property Office confers the National Intellectual Property Awards to recognize individuals and enterprises for their creation and commercialization of intellectual property (IP), contributing to the country's intellectual capital and creating an IP ecosystem that boosts creativity and innovation.
TCS has built a culture of innovation and has put in place robust processes and supporting structures to nurture, manage, and scale up the development of intellectual property. It systematically identifies promising new ideas from across the organization and invests in developing those further.
The Research and Innovation function within each business unit enables domain-specific innovation harnessing the power of digital technologies. This has resulted in an industry-leading portfolio of intellectual property consisting of patents, products and platforms that provide competitive differentiation to TCS, and immense strategic value to its customers.
Over time, the pace of patent filing has accelerated and TCS now generates over a dozen patent applications every week. The company has filed 6,922 patent applications and has been granted 2,560 patents, as of September 30, 2022.
TCS' intellectual property portfolio includes a comprehensive set of products and platforms that address enterprises' business and technology needs across industries. These include the TCS BaNCS™ suite for financial institutions, Algo Retail™ suite consisting of TCS Optumera™ and TCS Omnistore™, TCS ADD platform for the life sciences industry, TCS HOBS™ and the TwinX™ platforms for communications and media companies, ignio™ cognitive automation suite, Jile™ enterprise Agile planning and delivery tool, TCS MasterCraft™ suite of intelligent automation products, and TCS Intelligent Urban Exchange™ for sustainability-related innovation.
TCS' robust intellectual capital has helped expand its share of its customers' growth and transformation spends on initiatives such as business model innovation, customer experience reimagination, and tapping new revenue streams.
"We are honored to receive the National Intellectual Property Award and WIPO Trophy. TCS brands have a strong resonance in the market and these awards are recognition of our constant endeavor to build differentiated solutions to help our customers achieve their business goals. It reflects the role that TCS plays in partnering with its customers over the long-term relationship, leveraging its contextual knowledge, investments in research and innovation and intellectual knowledge, and technology expertise to help them achieve their purpose-led transformation goals," said Ashvini Saxena, Head, Components Engineering Group, TCS.
Hon. Piyush Goyal - Union Minister for Commerce & Industry, Govt of India, presented both the awards to TCS during National IP Conference 2022, an event organized by Indian Intellectual Property Office, Department for Promotion of Industry and Internal Trade and Capacity Building Commission in New Delhi.
Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3139.40 as compared to the previous close of Rs. 3154.85. The total number of shares traded during the day was 93476 in over 4748 trades.
The stock hit an intraday high of Rs. 3159.00 and intraday low of 3127.65. The net turnover during the day was Rs. 293551147.00.