April 9, 2013 / 7:13 AM / 4 years ago

TCS rises on purchase of French IT provider Alti

Employees of Tata Consultancy Services (TCS) work inside the company headquarters in Mumbai March 14, 2013.Danish Siddiqui

MUMBAI (Reuters) - Shares in Tata Consultancy Services rose as much as 2.2 percent on Tuesday after the company announced it will buy privately-held Alti SA of France for 75 million euros.

The acquisition signals Indian software service exporters' interest in diversifying its revenue base, and the acquisition could potentially help increase profits at TCS, analysts said.

TCS shares were up 2 percent as of 12:36 p.m.

Reporting by Manoj Dharra; Editing by Rafael Nam

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