Share price of Tata Consultancy Services rose nearly 2 per cent on the benchmarks after the IT major partnered with Transnet Port Terminals in South Africa to help the latter develop an integrated online marketplace platform.

During the last few minutes of the day’s trade, the scrip was trading at Rs 2,329.20, up by Rs 39.45 or 1.72 per cent on the BSE.

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Similarly, on the NSE it was up by Rs 41.05 or 1.79 per cent to trade at Rs 2,329.85.

Earlier in the day, TCS in a statement had announced that it has partnered Transnet Port Terminals (TPT) in South Africa, part of Transnet SOC Ltd, state-owned freight transport and handling company, to help the latter develop an integrated online marketplace platform by bringing together cargo owners, shipping lines, clearing and forwarding agents, and road/rail haulers.

The IT major will create a new platform named Cargo Connect, which will function as an online logistics marketplace where customers can submit logistics-related requests and allow service providers to bid online. Customers will be able to select the preferred proposal and award the cargo contract to that bidder, the statement added.

The statement further added that the process will make the entire request and bid selection process completely transparent.

Expected to be ready in 12 months, the Cargo Connect marketplace will reshape the industry and drive TPT’s growth, the statement added.

Siyabulela Mhlaluka, General Manager, Sales and New Business Development, TPT, said, “The new solution will help us bring all logistics players under one platform, create transparency in the industry, as well as power the next leg of our growth journey.”

Meanwhile, Sharla Chetty, Chief Information Officer of TPT, said, “A major feature of this solution is a logistics marketplace which will function in the same manner as existing market platforms in the transportation and hospitality industry. Customers could tender logistics requests on the platform and allow logistics service providers to bid and potentially be selected to undertake a logistics service.”