TCS Appoints Sanjay Bhandarkar Non-Executive Independent Director

Tata Consultancy Services Ltd. has appointed Sanjay V Bhandarkar as additional director and non-executive independent director of the company for a term of five years, effective immediately, according to a regulatory filing.

Bhandarkar holds over 30 years of experience in corporate finance, advisory services, and investment banking.

Shares of TCS closed 1.12% higher at Rs 3,532.05 apiece, as compared to a 0.17% decline in the benchmark NSE Nifty 50. It has fallen 13.44% in the last 12 months. The relative strength index was at 22.46.

Out of 48 analysts tracking the company, 33 maintain a 'buy' rating, 10 recommend a 'hold,' and five suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 26.6%.

(With inputs from PTI).