TCS Share Price: A Shock for India’s Largest IT Company
๐ On 27th January 2024, Tata Consultancy Services (TCS), the country’s biggest IT company, experienced a significant setback as Oxford University terminated its contract with the organization. This decision came after students faced technical difficulties during the university’s online entrance exams.
๐ Every year, thousands of students from around the world aspire to gain admission to Oxford University. The institution offers graduate and post-graduate programs through 30 UK colleges. Notable Indian alumni educated at Oxford include former Prime Minister Indira Gandhi and Manmohan Singh.
๐ซ However, due to technical issues faced by some candidates during the online entrance exams this year, Oxford University made the decision to not conduct the exams in collaboration with TCS. This move has raised concerns about the reliability of TCS’s technological infrastructure, which is crucial for conducting online examinations.
๐ In April 2023, the university had chosen TCS ION, TCS’s education and assessment unit, to conduct entrance exams instead of the Cambridge Assessment Admissions Testing. However, the contract was canceled after complaints from candidates regarding technical difficulties encountered during the online exams.
๐ This development has had a negative impact on TCS’s share price, which saw a decline following the news. Investors and stakeholders are closely monitoring the situation to assess the long-term implications for the company.
๐ It remains to be seen how TCS will address these concerns and restore confidence in its technological capabilities. As the largest IT company in the country, TCS’s reputation is at stake, and it will need to take swift action to rectify the situation.
๐ฅ Stay tuned for further updates on TCS’s share price and its efforts to regain the trust of its stakeholders. This incident serves as a reminder of the importance of robust technological infrastructure in the digital age.
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