TCS trades in positive territory after contract with WBA

Leading IT services major-Tata Consultancy Services (TCS), traded with gains on Tuesday, after it reported that it has entered into a deal with a global leader in retail and wholesale pharma company, on Monday after market hours.

TCS has expanded its long-standing partnership with Walgreens Boots Alliance (WBA) to advance its transformation in global IT functions by launching a new operating model for IT Run and Operational services. It aims to enable WBA in accelerating its digitalisation program for innovation in customer centric services and drive organisational efficiencies across the company as well as further reduce its cost base. These services include application maintenance, support, infrastructure and security operations.

WBA aims to focus on leading and supporting strategic technology projects that can create value for customers through the development of new digital products and services on its business platforms. In the press release, the company stated that the total value of the contract is USD 1.5 billion over a period of ten-year time frame.

In afternoon trade, the stock traded with flat gains of 0.30 per cent on BSE at Rs 2,108 a piece.