TCS gains on winning $1.5 bln deal from Walgreens Boots

Tata Consultancy Services (TCS) said it has won a $1.5 billion deal across a ten-year period from US pharma retailer Walgreens Boots Alliance (WBA) to transform its technology operations.

Index heavyweight and IT major TCS will provide run and operational managed services, including application maintenance and support, infrastructure and security operations. The TCS approach will blend artificial intelligence, machine learning and advanced software engineering to enhance operational resilience and boost productivity.

"WBA is building a scalable, sustainable and globally unified lT operating model that is focused on digital transformation, automation of service delivery and innovation," said Francesco Tinto, senior vice president, global chief information officer, Walgreens Boots Alliance, lnc. (WBA). "The TCS strategic partnership will enhance our ability to rapidly address evolving business needs, support large-scale global technology solutions and promote investment in truly differentiating capabilities through a modernized platform."

Shares of TCS rose 0.32% to Rs 2,109.85. It hit a high of Rs 2,137.55 and a low of Rs 2,087.95 in intraday so far.

On the technical front, the stock's RSI (relative strength index) stood at 42.783. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

TCS' consolidated net profit rose 0.94% to Rs 8,118 crore on 2.25% increase in net sales to Rs 39,854 crore in Q3 December 2019 over Q2 September 2019.

TCS is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for the last fifty years.

Powered by Capital Market - Live News