TCS wins record $2.25 billion Nielsen outsourcing contract

In what is the biggest-ever outsourcing deal for an Indian IT company so far Tata Consultancy Services (TCS) has bagged a mega 2.25-billion contract by Nielsen a television rating management firm. The new deal assures 320 million worth of business annually for the Mumbai IT giant. from 2017 to 2020. Prospective annual revenue from 2021 till 2024 is being seen at 186 million and at 139.5 million in 2025. This deal is being seen as the first significant milestone for TCS chief Rajesh Gopinathan who had replaced N Chandrasekaran in February last. This new development comes close on the heels of TCS claiming 2nd position as the top wealth generator in last 5 years just behind Reliance Industries Ltd. Nielsen had earlier given TCS a 1.2-billion contract in 2007 which was for a 10-year period. Six years later it was expanded to 2.5 billion and and the period extended by 3 more years to 2020. NEW DELHI: Shares of Maruti Suzuki (Rs 198.33 crore) Bharti Airtel (Rs 85.66 crore) Reliance Industries (Rs 73.41 crore) and MRF (Rs 61 crore) were trading as the most active stocks in terms of value on NSE in morning trade on Friday. Shares of Britannia Industries (Rs 60.00 crore) Tata Consultancy Services (Rs 53.52 crore) Infosys (Rs 50.18 crore) HDFC (Rs 48.06 crore) Larsen & Toubro (Rs 47.96 crore) DLF (Rs 45.86 crore) Sun TV (Rs 39.75 crore) and Bharti Infratel (Rs 38.50 crore) also figured in the league of most active stocks in value terms. The NSE Nifty index was trading 18 points up at 10 458 while BSE Sensex was up 68 points at 33 824 around 09:45 am (IST). For trending stocks and buzzing news track this LIVE BLOG from Dalal Street In the Nifty index Adani Ports & Special Economic Zone Eicher Motors Mahindra & Mahindra Hindalco Industries Bajaj Finance Tata Consultancy Services and Tata Motors were trading as the top gainers. However Lupin HCL Technologies Bajaj Auto Coal India and Hero MotoCorp were trading among the losers. Global IT services major Accenture said it has started seeing industrialisation of digital technology services such as cloud analytics cyber security. The company which claims to have 60 per cent of the new deal bookings in digital cloud and cyber security has started seeing a shift from the proof of concept (PoC) stage for digital technology-based services. Accenture said its new order book in the first quarter of 2018 (ended on November 30) stood at 10 billion. Indeed we see a shift of the budget to the digital technology at large...We are moving from what i would qualify in last couple of years proliferation of the PoC and now we are moving to the industrialisation of the deployment of the digital capabilities and of course it is creating strong demands Pierre Nanterme Chairman and chief executive officer Accenture told analysts in a call. IT services players across the global such as Accenture IBM Tata Consultancy Services Infosys Cognizant Wipro witness an increasing demand for service delivery using technologies such as cloud computing artificial intelligence machine learning. This has resulted in sharp fall in the traditional software maintenance business. Accenture analyst widely say has been aggressive in acquiring skills in new areas through acquisitions. The company which garners more than half of its revenues from digital technologies allocated 1.1 to 1.4 billion to acquire small firms in 2018 to strengthen skills in emerging technologies Acquisition is an essential part of our strategy...heavily focused on the new and acquiring critical capabilities to further support that part of our business which is growing at such a high rate said David P. Rowland chief financial officer. Going forward the company said Nanterme would focus on three key pillars for digital transformation - Accenture interactive Accenture Industry X.0 Accenture Applied intelligence - to become more relevant to its clients. These mean a strong focus on internet of things (IoT) data analytics in manufacturing and use of artificial intelligence. Accenture is planning to open industrial IoT innovation centres in Asia and in the US and one centre near Munich. Maruti Suzuki India s shares hit the Rs 10 000 mark on the BSE on Wednesday and crossed Rs 3 lakh crore in market capitalisation for the first time. The automobile company is the sixth Indian firm to breach this level in market capitalisation.The share price was at Rs 10 000 briefly before falling again. At 1.32 pm it was trading at Rs 9 865.20 about 61 points higher than Tuesday s close. On the National Stock Exchange the highest price the shares reached on Wednesday was Rs 9 996.40.The company s stock has risen over 84% so far in 2017. The surge this month has come on the back of the company s announcement that it will raise the prices of some car models from January.Only Reliance Industries Tata Consultancy Services HDFC Bank ITC and Oil and Natural Gas Corporation have crossed the Rs 3-lakh-crore market capitalisation level. Reliance Industries has a market capitalisation of Rs 5.84 lakh crore currently. In October Reliance had become the first Indian company to touch Rs 6 lakh crore in market capitalisation. .story-content span .story-content p .story-content div color: #000 !important; font-family: open sans Arial !important; font-size: 15px !important; ALSO READ Maruti Suzuki overtakes Hindustan Unilever in market cap race Maruti Suzuki rides past SBI HDFC in m-cap Tata Motors half of Maruti Suzuki in m-cap Maruti Suzuki hits new high; surpasses SBI HDFC in market-cap ranking Volumes keep Maruti s growth engine humming span.p-content div id =div-gpt line-height: 0px; font-size: 0px; Wipro India s third largest IT services company said it received 341 per cent higher response than the reserved number of equity shares in the buyback process. The company had in September said it would buy back up to 343.75 million fully paid-up equity shares of representing 7.06 per cent of the total paid-up equity share capital at a price of Rs. 320 ( 4.971) totalling up to Rs 11 000 crore. In its post buyback announcement to the Bombay Stock Exchange Wipro said there were applications for tendering 1 173.69 million equity shares against the buyback announced resulting in 341 per cent higher subscription. After the buyback process shareholding of promoters and promoters group increased by 1.15 per cent to 74.33 per cent of the total equity shares of the company. The company bought back 52.27 per cent of the 343.75 million shares proposed for buyback from Azim Premji Trust. Stocks of IT services companies have given sluggish returns during the past couple of years owing to slow-paced business growth. These companies have started seeing single-digit growth for the first time in a decade primarily due digital disruption and automation. Deal sizes for them have reduced and clients are increasingly focusing on digital technology-based services. As a result peers of Wipro such as Infosys Tata Consultancy Services Cognizant HCL Technologies announced share buyback plans.