Tata Consultancy Services-led consortium has bagged a Rs 15,000-crore contract from BSNL to deploy 4G network for the state-run telco.
In a statement, TCS said it has received an “advance purchase order” valued at over Rs 15,000 crore from BSNL.
The announcement ends months of speculation around the deal, where TCS was tipped to be the front-runner for the contract. The deal has been in the works for many months.
TCS is the country’s largest software exporter and typically books over 5 percent of its revenue domestically.
Bharat Sanchar Nigam (BSNL) provides fixed line and wireless telephony, and data services across the country barring Mumbai and New Delhi.
Private rivals of BSNL already provide 4G services and have also launched 5G offerings in select pockets of the country.
The TCS scrip was trading 0.77 percent up at Rs 3,246.55 a piece at 1045 hrs on the BSE, as against gains of 0.32 percent on the benchmark.
ALSO READ | Sensex, and Nifty recover initial losses; NTPC, Wipro lead gains
ALSO READ | Jewellers getting more inquiries for gold after RBI withdraws Rs 2,000 notes | Here are full details
Latest Business News