"Under the terms of this agreement, Diligenta will support Scottish Widows to provide end-to-end policy administration services for its 4 million heritage customers," TCS said in a statement.
Country's largest IT services firm Tata Consultancy Services (TCS) said its Non-Executive Director Phiroz Vandrevala resigned from the company with immediate effect from July 8
Goldman Sachs has reduced target price to Rs 2600 from Rs 2670 per share as it believes TCS's sector-leading cash returns justify its 15 percent premium versus sector on FY17. It has also changed its FY16-FY18 earnings per share (EPS) by up to 1 percent factoring in Q3 revenue growth miss.
Brokerages are still bullish on the stock. Most analysts are, however, concerned about its Japan business, insurance platform Diligenta and high hiring guidance.
A day after TCS posted a largely muted set of quarterly earnings, CEO N Chandrasekaran said the company was witnessing 'weak spots' in the business and said its constant currency growth could see a "gap of 1.5-2 percent...explained by softness" in certain areas of the business.
Speaking exclusively to CNBC-TV18‘s Menaka Doshi, N Chandrasekaran, managing director and chief executive officer, Tata Consultancy Services says the company faced a number of headwinds in the form of working days and furloughs in Q3.
In an open-book deal, the buyer and seller of work/ services agree on which costs are remunerable and the margin that the supplier can add to these costs
In an exclusive interview to CNBC-TV18, CEO & MD of the company, N Chandrasekaran said clients appear decisive about IT budgets.
India's top software services exporter Tata Consultancy Services' consolidated fourth quarter net profit grew 23% year-on-year and 1.6% sequentially to Rs 2,932.4 crore. In an interview to CNBC-TV18, the company's management speak about the Q4 numbers and give their outlook going forward.
Today, TCS won order worth USD 2.2 billion from Friends Life. TCS will begin execution from March 1, 2012, reports CNBC-TV18.