🤯 Picked by our AI, this stock rallied more than Nvidia this month, yielding 94% since MarchSee the stock

India's TCS expands partnership with Britain's JLR in over $1 billion deal

Published 06/09/2023, 15:13
Updated 06/09/2023, 15:16
© Reuters. A member of staff works on the production line at Jaguar Land Rover’s factory in Solihull, Britain, December 15, 2022. REUTERS/Phil Noble/File photo
HCLT
-
INFY
-
TCS
-

BENGALURU (Reuters) - India's Tata Consultancy Services and Britain's Jaguar Land Rover (JLR) have expanded their partnership, valued at more than 800 million pounds ($1.00 billion) over five years, the two Tata Group companies said on Wednesday.

As part of the partnership, India's top IT services exporter would deliver a range of services for the vehicle manufacturer spanning application development and maintenance to cloud migration, cybersecurity and data services.

JLR and TCS are longstanding partners, collaborating on various fronts since 2012.

Over the last few months, top IT services companies in India have secured a handful of multi-million and billion-dollar deals and contract renewals amid worries of client spending cuts in the key United States and European markets.

TCS had in June signed a $1.1 billion contract with British pension scheme Nest.

© Reuters. A member of staff works on the production line at Jaguar Land Rover’s factory in Solihull, Britain, December 15, 2022. REUTERS/Phil Noble/File photo

Rivals Infosys signed three deals between June and August, while HCL Technologies secured a $2.1 billion deal with U.S. telecom major Verizon (NYSE:VZ) last month.

($1 = 0.7966 pounds)

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.