Apr 15, 2007

TCS wins $100 mn deal from Bank of China

Tata Consultancy Services (TCS), the country's largest software exporter, is believed to have clinched a 100 million dollar deal spread over five years from Bank of China to provide IT solutions.
The contract can be termed as one of the major IT-related deals signed by a Chinese bank and is timely for a company aggressively expanding in China, industry sources said.

When contacted, a TCS spokesperson declined to comment.
Bank of China had called for bids to revamp its IT infrastructure. It is the second-biggest lender in China and has the largest global network among all Chinese banks.

The bank is looking at integrating its IT requirements for its international network.
Sources said the opportunity is seen as huge because the vendors who are able to bag the deal for the international network will get an edge for mainland operations of the bank.

BUY TCS @ CMP TARGET --- 1600 + ( 1 YEAR HOLD )
BUY TCS @ CMP TARGET --- 1480 + ( SHORT TERM HOLD )

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