Tata Consultancy Services (TCS) said that a consortium led by it has been awarded a ₹15,000-crore purchase order to deploy a 4G network across India for state-owned telco Bharat Sanchar Nigam Ltd (BSNL).
What Happened? The IT services giant said in a filing that its consortium had won a contract for helping the state telecom operator build its 4G network.
It was previously reported that BSNL was looking to launch 4G services by the end of 2022 and gradually roll out the network across the country. It had been mulling the launch of 4G for at least a couple of years but had not been able to reach an agreement on pricing with the TCS-led consortium.
TCS is likely to provide the core equipment for the network and look after its maintenance for close to a decade.
Price Action: TCS shares went up 0.63% to ₹3,243.75 in early trade following the announcement.
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