TCS Wins the National Intellectual Property Award 2023 and WIPO Users Trophy

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has won the National Intellectual Property Award 2023 in the category 'Top Public Limited Company for Patents Filing, Grant & Commercialization in India in the field of Service/Others Sector' and the World Intellectual Property Organization's (WIPO) National Award for Enterprises.

The Indian Intellectual Property Office confers the National Intellectual Property Awards to recognize and reward the top achievers comprising of individuals, institutions, organizations, and enterprises, for their IP creations and commercialization, which have contributed towards strengthening the country's IP ecosystem, and encouraging creativity and innovation.

TCS has always been at the forefront of innovation with its deep market insights and contextual knowledge aimed at helping customers in their growth and transformation journeys. It has built a culture of innovation and has put in place robust processes and supporting structures to nurture, manage, and scale up the development of intellectual property. It systematically identifies new promising ideas from across the organization and invests in developing those further.

The Research and Innovation function within each business unit enables domain-specific innovation harnessing the power of digital technologies, including generative AI. This has resulted in an industry-leading portfolio of intellectual property consisting of patents, products, and platforms that provide competitive differentiation to TCS, and immense strategic value to its customers.

TCS has accelerated its ability to create newer innovations and increase the economic value of its IP for enhanced business opportunities. The company has filed 7,665 patent applications and has been granted 3,153 patents, as of September 30, 2023.

TCS' intellectual property portfolio includes a comprehensive set of products and platforms that address enterprises' business and technology needs across industries. These include the TCS BaNCS™ suite for financial institutions, Algo Retail™ suite consisting of TCS Optumera™ and TCS Omnistore™, TCS ADD platform for the life sciences industry, TCS HOBS™ and the TwinX™ platforms for communications and media companies, ignio™ cognitive automation suite, Jile™ enterprise Agile planning and delivery tool, TCS MasterCraft™ suite of intelligent automation products, and TCS Intelligent Urban ExchangeTM for sustainability-related innovation.

"TCS' robust intellectual capital has significantly enhanced its capacity to create greater value for customers, improve products and services leading to newer business models, and resulting in better customer experience. The National IP Award and WIPO Trophy serve as a clear testament to our unwavering commitment to deliver customer-centric, innovative, and differentiated solutions to aid our customers in achieving their business objectives. TCS remains steadfast in leveraging its deep domain knowledge and cutting-edge technology to create out-of-the-box innovation supported by an ever-scaling portfolio of patents across a range of emerging technologies, and thus solidifying our position as the preferred partner for our customers' growth and transformation initiatives," said Ashvini Saxena, Head, Components Engineering Group, TCS.

Shri Piyush Goyal - Union Minister of Commerce & Industry, Govt of India, presented the National IP Award to TCS during National IP Conference 2023, an event organized by Indian Intellectual Property Office, Department for Promotion of Industry, and Internal Trade in New Delhi. Shri Som Prakash - Minister of State in the Ministry of Commerce & Industry, Govt of India, and Daren Tang - Director General of WIPO, presented the WIPO National Award for Enterprises to TCS.

Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3454.75 as compared to the previous close of Rs. 3487.15. The total number of shares traded during the day was 216685 in over 4389 trades.

The stock hit an intraday high of Rs. 3478.35 and intraday low of 3451.85. The net turnover during the day was Rs. 750405517.00.

Source : Equity Bulls

Keywords

TataConsultancyServices INE467B01029 TCS Awards