In a holiday-shortened week, India s stock market witnessed a significant dip, with major tech firms like TCS and Infosys experiencing drastic drops in market valuation amidst festive celebrations.
Tata Consultancy Services (TCS) shares surged 4% to an all-time high of Rs 4,135.9 on BSE as it won a multi-year deal from Europ Assistance. The deal involves TCS helping Europ Assistance reimagine its global IT operating model. The partnership will focus on co-innovation using generative AI and other advanced technologies. TCS will leverage its proprietary solution, ignio AIOps, to enhance operational resilience and business agility for Europ Assistance. The company s market cap also crossed Rs 15 lakh crore for the first time in today s trade.
As part of the deal, the end-to-end policy administration and servicing will expand to cover over 5.5 million policies, which will be managed by TCS' subsidiary Diligenta.