Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, today announced that TCS has been recognized as a leader for the fifth consecutive year in banking Application Outsourcing (AO) by Everest Group.

''TCS is thrilled to be positioned as a Leader in Banking Application Outsourcing (AO) by the Everest Group for five years running,'' said K Krithivasan, president, banking financial services at TCS. ''This recognition is a testament to TCS' commitment to innovation, having launched multiple solutions for evolving needs of banks such as omnichannel integration, regulatory compliance, enhanced customer experience, big data analytics and mobility.''

Shares of the company gained Rs 1.35, or 0.05%, to settle at Rs 2,509.30. The total volume of shares traded was 30,215 at the BSE (Tuesday).