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    TCS   INE467B01029

TATA CONSULTANCY SERVICES LTD.

(TCS)
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Tata Consultancy Services : Deutsche Bank to sell IT unit to Tata as it trims staff

11/09/2020 | 09:06am EST

FRANKFURT, Nov 9 (Reuters) - Germany's Deutsche Bank has agreed to sell its IT services division Postbank Systems to India's Tata Consultancy Services, it said on Monday.

Postbank Systems has around 1,500 employees, mainly in the German city of Bonn. The sale is part of Deutsche's plan to shed 18,000 staff overall to cut costs and restore profitability.

Deutsche Bank will pay TCS's integration costs of 120 million euros ($142.69 million) as part of the deal.

"As part of our move to one technology organisation, we are consolidating the IT platform for our retail banking brand Postbank into the Deutsche Bank platform," Deutsche Bank's Chief Technology Officer Bernd Leukert said.

TCS is already an IT services partner for Deutsche Bank and the acquisition will add to TCS's capabilities in the banking domain", N. G. Subramaniam, Chief Operating Officer and Executive Director, said. ($1 = 0.8410 euros) (Reporting by Arno Schuetze and Patricia Uhlig Editing by Michelle Adair)


ę flux de test 3, afficher sur le serveur de test 2020
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BANK AG 0.54% 12.018 Delayed Quote.9.08%
TATA CONSULTANCY SERVICES LTD. -0.04% 4017 Delayed Quote.6.15%
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Analyst Recommendations on TATA CONSULTANCY SERVICES LTD.
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Financials
Sales 2022 1 912 B 25 719 M 25 719 M
Net income 2022 386 B 5 194 M 5 194 M
Net cash 2022 385 B 5 174 M 5 174 M
P/E ratio 2022 38,5x
Yield 2022 1,34%
Capitalization 14 867 B 200 B 200 B
EV / Sales 2022 7,57x
EV / Sales 2023 6,64x
Nbr of Employees 556 986
Free-Float 27,8%
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Technical analysis trends TATA CONSULTANCY SERVICES LTD.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 40
Last Close Price 4 019,15 INR
Average target price 4 132,75 INR
Spread / Average Target 2,83%
EPS Revisions
Managers and Directors
Rajesh Gopinathan CEO, MD & Non-Independent Executive Director
Samir Seksaria Chief Financial Officer
Natarajan Chandrasekaran Non-Executive Chairman
K. Ananth Krishnan Chief Technology Officer
N. Ganapathy Subramaniam COO & Non-Independent Executive Director
Sector and Competitors
1st jan.Capi. (M$)
TATA CONSULTANCY SERVICES LTD.6.15%198 076
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