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    TCS   INE467B01029


Delayed NSE India Stock Exchange  -  09:00 2022-08-08 am EDT
3374.45 INR   +0.28%
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Tata Consultancy Services : Outokumpu Partners with TCS on its Cloud-First Transformation Journey

07/05/2022 | 02:33am EDT

Tata Consultancy Services to Build a New Cloud-based Digital Core, Enhancing Agility and Improving Employee Experiences

HELSINKI | MUMBAI, July 05, 2022: Tata Consultancy Services (BSE: 532540, NSE: TCS) has been selected by Outokumpu, the global leader in sustainable stainless steel, to transform its IT landscape with an agile and secure cloud-based digital core to reduce its carbon footprint and support its strategic aspirations.

Headquartered in Finland and operating in more than 30 countries with around 9,000 employees, Outokumpu aims to strengthen its industry leadership and competitive differentiation. Towards this goal, it has embarked on a cloud transformation journey, entering into a multi-year strategic partnership with TCS to build a next-generation hybrid cloud platform.

TCS will use its deep industry knowledge of the steel sector to support Outokumpu in building a new digital core using advanced digital technologies such as cloud, data analytics and Artificial Intelligence (AI). It will transform and migrate the steel-maker's mission-critical manufacturing operations systems and core SAP systems to a new hybrid cloud architecture using Azure.

Additionally, TCS will deploy new digital end-user services that will cater to the differentiated needs of each of Outokumpu's business units and help them derive the full benefit of the transformation. TCS will leverage its Machine First™ approach to simplify production management using Cognix™for Workplace, its AI-driven human-machine collaboration suite. This will help create an intuitive, immersive, and intelligent workspace, offering delightful employee experiences.

The new cloud-based digital core will help enhance operational resilience, scalability and agility across the enterprise. Easier access to next-gen technologies as part of the cloud stack is expected to accelerate innovation across the organization and advance Outokumpu's digital manufacturing objectives. Further, the transformation will reduce Outokumpu's carbon footprint and help achieve its objective of being the customer's first choice in sustainable stainless steel.

"We have chosen TCS as our partner to deliver a resilient and scalable digital core that meets the needs of our business operations. TCS' deep and contextual understanding of the steel industry and cloud-first approach enables us to improve our productivity and profitability as well as achieve our sustainability targets. With its built-in security governance and identity access on all service levels, TCS' automation solution ensures the stability and reliability of our key operations and offers capabilities for service modernization," said Stefan Erdmann, Chief Technology Officer, Outokumpu.

"We are delighted to enter into this strategic partnership with Outokumpu to accelerate their digital transformation and help realize their business vision. TCS' deep contextual and industry knowledge, expertise in cutting-edge digital technologies, and innovative cloud-first solution will help Outokumpu gain agility, enhance user experience, reduce their carbon footprint, and establish competitive differentiation," saidSubhadipta Samantray, Country Head, TCS Finland. "This partnership represents an expansion of TCS' footprint in the Finnish manufacturing sector, further strengthening our position as a growth and transformation partner in the region."

About Outokumpu

Outokumpu is the global leader in stainless steel. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization's basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs some 9,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com

About Tata Consultancy Services (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 592,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com

TCS media contacts: Asia Pacific

Email: wenjian.lin@tcs.com

Phone: +65 9695 9948

Australia and New Zealand

Email: Kelly.ryan@tcs.com

Phone: +61 422 989 682


Email: tiffany.fisher@tcs.com

Phone: +1 416 456 7650


Email: joost.galema@tcs.com

Phone: +31 615 903387


Email: vanshika.sood@tcs.com

Phone: +91 22 67789098

Email: saxena.kritika@tcs.com

Phone: +91 22 6778 9999

Middle East & Africa

Email: s.hasneen@tcs.com

Phone: +00971567471988


Email: douglas.foote@tcs.com

Phone: +81 80 2115 0989

Latin America

Email: alma.leal@tcs.com

Phone: +521 55 2095 6098


Email: peter.devery@tcs.com

Phone: +44 20 3155 2421


Email: james.sciales@tcs.com

Phone: +1 917 981 7651


TCS - Tata Consultancy Services Ltd. published this content on 05 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 July 2022 06:32:08 UTC.

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Sales 2023 2 192 B 27 546 M 27 546 M
Net income 2023 421 B 5 289 M 5 289 M
Net cash 2023 401 B 5 046 M 5 046 M
P/E ratio 2023 29,4x
Yield 2023 2,43%
Capitalization 12 347 B 155 B 155 B
EV / Sales 2023 5,45x
EV / Sales 2024 4,90x
Nbr of Employees 592 195
Free-Float 27,7%
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Mean consensus OUTPERFORM
Number of Analysts 43
Last Close Price 3 374,45 INR
Average target price 3 531,79 INR
Spread / Average Target 4,66%
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