TCS shares in focus as co sells 30% stake in South African arm worth Rs 28 crore to comply with norms

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Shares of Tata Consultancy Services (TCS) will be in focus after the company announced that it has entered into an agreement with Isisekelo Sethu Trust to sell and dispose off 30% of shares worth Rs 28 crore (ZAR 60 million) held by TCS Africa in TCS SA to comply with the Broad-Based Black Economic Empowerment (B-BBEE) guidelines in South Africa.

“We hereby inform that Tata Consultancy Services (Africa) (Proprietary) Limited (TCS Africa), a wholly owned subsidiary of Tata Consultancy Services Limited (TCS) and Tata Consultancy Services (South Africa) (Proprietary) Limited (TCS SA), a step down wholly owned subsidiary of TCS have entered into an agreement with Isisekelo Sethu Trust to sell and dispose off 30% of shares held by TCS Africa in TCS SA to comply with the Broad-Based Black Economic Empowerment (B-BBEE) guidelines in South Africa. Consequent to the above transaction, TCS SA will cease to be a wholly owned step-down subsidiary of TCS,” the company aid in its press release last week.


Isisekelo Sethu Trust is a registered trust in South Africa formed to facilitate the empowerment and development of previously disadvantaged and economically marginalized people in accordance with the Broad-Based Black Economic Empowerment Act (B-BBEE Act).

TCS SA has a turnover of Rs 934 crore, contributing 0.39% to TCS’ income on a consolidated basis as of March 31, 2024. Meanwhile, the South African subsidiary has a net worth of Rs 105 crore.


TCS reported a 5% growth in its consolidated net profit, reaching Rs 11,909 crore for the second quarter ended September 2024, compared to Rs 11,342 crore in the year-ago period. Revenue from operations, meanwhile, increased 8% year-on-year (YoY) to Rs 64,259 crore.

Shares of the tech major have given 10% returns in the last one year, meanwhile, they have surged 90% in the last five years.
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