India's TCS rises on contract extension with Britain's Phoenix Group

Bombay Dyeing And Mfg

13/11/2019 06:38

** Shares in India's No. 1 software services exporter
 TCS.NS  rise 3.2%
    ** TCS and British insurer Phoenix Group  PHNX.L  expand
existing partnership  urn:newsml:reuters.com:*:nFWN27S0GA
    ** TCS to manage 4.2 mln additional policies for Phoenix
subsidiary Standard Life's pensions and savings unit, taking
total to nearly 10 mln 
    ** The multi-year IT services deal is estimated at $2 bln
with an annual revenue run rate of $200 mln, the Times of India
newspaper reported https://timesofindia.indiatimes.com/business/india-business/tcs-signs-new-2-billion-deal-with-phoenix-group/articleshow/72032250.cms
 on Wednesday
    ** Up to Monday's close, TCS shares had fallen 8% from
all-time intraday high touched on Oct. 31

 (Reporting by Sachin Ravikumar)
 ((saisachin.r@tr.com; +91 80 6749 7649; Twitter: @sachinr27))