Infosys, TCS, Wipro stocks rise on BP deal
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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

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