TCS shares jump 5% as DGCX partnership lift stocks
Under its agreement with Dubai Gold & Commodities Exchange, TCS will support the exchange across energy commodities, currencies, equities, bullion, and precious metals
Tata Consultancy Services (TCS) saw its shares jump by 5.19 percent to ₹2,315 on the National Stock Exchange (NSE) on Tuesday morning, making it the top performer in the NIFTY TATA 25 CAP index. This index, which climbed 0.96 percent to 14,145.15 by around 11:35 am, was lifted by TCS's announcement of a partnership with the Dubai Gold & Commodities Exchange (DGCX).
The collaboration aims to upgrade the exchange's market infrastructure using a cutting-edge integrated trading, clearing, and surveillance solution. TCS will use its BaNCS platform for central counterparty clearing, Quartz for market surveillance, and Quartz Gateway, which includes AI-driven reporting and analytics. This system will cover DGCX in various commodities and assets, with potential expansion into cryptocurrency and tokenized assets.
The NIFTY TATA 25 CAP opened at 14,244.75, peaked at 14,263.40, and closed at 14,145.15, with advances surpassing declines in a 7-to-3 ratio. Trading volume totaled 363.94 lakh units, valued at ₹1,907.15 crore. The index is priced at a P/E of 33.11 and a P/B of 4.45, with a free-float market cap of ₹10.52 lakh crore. Other Tata Group companies, such as Tata Motors, Indian Hotels, and Tata Power, also experienced gains, while Titan and Trent declined. TCS reported revenue exceeding $30 billion for the fiscal year ending March 2026.
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