Infosys, TCS, Wipro stocks rise on BP deal

Last Updated: Wednesday, August 26, 2009 - 23:50

Mumbai: Shares of IT majors -- Infosys, TCS
and Wipro – on Wednesday surged as much as four per cent on the Bombay Stock Exchange, following their five-year deal with British oil giant BP.

The scrip of Infosys jumped four per cent while TCS and
Wipro gained over two per cent.

Infosys shot up 4.07 per cent to Rs 2,181.35 and TCS
climbed 3.75 per cent to Rs 548.30 points. Wipro rose 2.34 per
cent to 557.25 points.

All the three entities have bagged a five-year IT deal
from BP.

Meanwhile, the IT index went up 138.51 points or 3.35 per
cent to 4,272.46 points, primarily on the back of gains made
by the three firms.

While Infosys would operate BP`s business systems, Wipro
would provide IT Application Development and Application
Maintenance (ADAM) services for BP`s Fuels Value Chain and
corporate business worldwide.

TCS has been selected for engagements in refining,
manufacturing and corporate IT with opportunities across fuels
value chain including upstream and trading.

The benchmark Sensex closed at 15,769.85 points, up 0.52
per cent.

Bureau Report



First Published: Wednesday, August 26, 2009 - 23:50

comments powered by Disqus