TCS Shares Gain After Securing Five-Year NHS Supply Chain Contract
The five-year contract from the UK's National Health Service supply chain is to provide application development support and maintenance for its core business systems and cloud infrastructure.
Tata Consultancy Services Ltd.’s share price rose 1.68% on Wednesday a day after the company secured a five-year contract from the UK's National Health Service supply chain to provide application development support and maintenance for its core business systems and cloud infrastructure.
Under the partnership, TCS will implement a suite of cloud and AI-driven solutions to modernise NHS Supply Chain’s IT infrastructure, aiming to boost operational efficiency, the company said in an exchange filing on Tuesday.
The initiative includes replacing legacy systems with a next-generation Supply Chain ERP platform and shifting to a product- and platform-based IT operating model, in line with NHS Supply Chain’s strategic vision.
Infosys Ltd. had earlier in October won a 1.2 billion Euro (Rs 14,137 crore) contract from the National Health Services Business Services Authority (NHSBSA). The 15-year contract was to deliver the Further NHS Workforce Solution.
Tata Consultancy Services, rooted in Tata Group is a digital transformation and technology partner of choice for industry-leading organisations worldwide. The company was founded in 1968 and has a workforce of over 607,979 consultants in 55 countries and 180 service delivery centres across the world, the company has been recognised as a top employer in six continents.
The scrip fell as much as 1.86% to Rs 3,144 apiece. It pared gains to trade 1.70% higher at Rs 3,139 apiece, as of 10:45 a.m. This compares to a 0.22% advance in the NSE Nifty 50 Index.
It has fallen 22% in the last 12 months. Total traded volume so far in the day stood at 0.4 times its 30-day average. The relative strength index was at 61.32.
