TCS secures contract worth Rs 454 Cr from UK-based firm

Country's largest software exporter, Tata Consultancy Services (TCS) has informed that the company has secured an eight-year end-to-end IT applications services contract from Scottish Water, a UK-based public sector water utility firm, worth Rs 454 crore (£60 million).

Under the terms of the contract, TCS will consolidate Scottish Water's existing applications and transform information management to enhance delivery of IT services to the business. The tender involved 136 companies.

The deal, apart from delivering an extended level of service, will also save Scottish Water, which serves 5.5 million customers in Scotland, a minimum of £8 million (Rs 63.2 crore) in operating expenditure over the next eight years.

Apart from all of these, TCS has been selected as the only partner for application management and support, strategic enterprise information, business intelligence and integration services.

Shares of the company gained Rs 29, or 3%, to settle at Rs 911. It touched an intraday high and low of Rs 930 and Rs 870 respectively. The total volume of shares traded was 4,052,457at the NSE. (Tuesday)

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