TCS will hold 51 percent while Mitsubishi will hold the remaining 49 percent of the entity, which will be operational from July 2014.
India's largest IT services exporter Tata Consultancy Services has signed a pact with Japan's to create a Japanese software services provider, the companies said in a statement on Monday.
Tata Consultancy Services Japan Ltd, Nippon TCS Solution Center Ltd and IT Frontier Corporation - a wholly owned unit of Mitsubishi - will be merged together to form a single entity, the pair said in the statement.
Also read: See IT growth at 13-14% in FY15; bet on Infosys,TCS: Kotak
TCS will hold 51 percent while Mitsubishi will hold the remaining 49 percent of the entity, which will be operational from July 2014, they said.
TCS stock price
On April 21, 2014, at 11:14 hrs Tata Consultancy Services was quoting at Rs 2220.00, up Rs 2.55, or 0.11 percent. The 52-week high of the share was Rs 2384.20 and the 52-week low was Rs 1364.00.
The company's trailing 12-month (TTM) EPS was at Rs 85.24 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 26.04. The latest book value of the company is Rs 165.73 per share. At current value, the price-to-book value of the company is 13.40.
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