12,000 people will get jobs
The country’s largest IT company Tata Consultancy Service (TCS) is going to make a big investment in Andhra Pradesh. For this, the Andhra Pradesh government will allot 21.16 acres of land to TCS of Tata Group TCS at a token lease price of 99 paise. The Andhra Pradesh Cabinet approved it on Tuesday. Located on IT Hill No. three, this land will be used as an IT campus. The proposed campus is expected to invest Rs 1370 crore by TCS. This project will create 12,000 jobs.
Cabinet also approved for expansion of steel plant
An official press release said, “The cabinet has approved the allot of 21.16 acres to TCS in Visakhapatnam IT Hill No. 3, Andhra Pradesh to set up an IT campus. This is expected to provide jobs to 12,000 people. ”In addition, the state cabinet has also approved the proposal of Mahamaya Industries Limited for expansion of an integrated steel plant in Vijayanagaram.
The company’s profit has fallen
Let us tell you that TCS had released the results of the fourth quarter of FY 2024-25 on April 10 last week. According to the information given by the company, TCS’s net profit fell by 1.6 percent to Rs 12,224 crore in the January-March quarter. However, during this period, the company’s revenue was registered on an annual basis. TCS received a record of $ 12.2 billion in the fourth quarter. In addition, in FY 2024-25, the company also crossed the $ 30 billion Revenue Milestone.
Company shares closed with an edge on Tuesday
On Tuesday, TCS shares closed at a level of Rs 3247.70 with a gain of 0.48 percent (Rs 15.40) on BSE. However, the company’s shares are still far below their 52 weeks high. The 52 week high of TCS shares is Rs 4585.90. The company’s current market cap is Rs 11,75,046.28 crore and is the third largest company in India after Reliance Industries and HDFC Bank in terms of market cap.
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