Tech Mahindra on July 21, 2008 announced that the Company has been selected by BT Group as the preferred vendor for a five year systems and process transformation program generating incremental revenues for Tech Mahindra of approximately USD 700 million. Tech Mahindra will be assisting BT in accelerating BT Group's transition to the platform-based services strategy focused on improving its customers' experience of right first time and cycle time. Radically reducing the systems estate and significantly simplifying the customer experience will be the key outcomes.
BT and Tech Mahindra are currently in a planning phase for the project and more details will be announced at the appropriate time.
Tech Mahindra and BT Group have worked together for over 20 years on a range of projects in IT, Infrastructure and Business Process Outsourcing which have proved very successful for both parties. The proposed deal builds upon and strengthens the productive working relationships developed during that time. Sanjav Kalra President, Tech Mahindra, said, "Tech Mahindra is delighted to play a central role in this transformation program that is so critical to achieving BT's long term business goals.
The stock closed the day at Rs.679.10, up by Rs.12 or 1.80%. The stock hit an intraday high of Rs.682 and low of Rs.657.The total traded quantity was 38800 compared to 2 week average of 34655.
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