{"id":15463,"date":"2023-06-16T09:28:01","date_gmt":"2023-06-16T07:28:01","guid":{"rendered":"https:\/\/investmentbell.com\/?p=15463"},"modified":"2023-06-16T09:28:05","modified_gmt":"2023-06-16T07:28:05","slug":"indias-tcs-transamerica-end-2-billion-contract-due-to-macro-environment","status":"publish","type":"post","link":"https:\/\/investmentbell.com\/hi\/news\/market-overview-news\/indias-tcs-transamerica-end-2-billion-contract-due-to-macro-environment\/","title":{"rendered":"India&#8217;s TCS, Transamerica end $2 billion contract due to macro environment"},"content":{"rendered":"<p>BENGALURU (Reuters) -Indian information technology (IT) company Tata Consultancy Services said on Friday it has mutually agreed with insurance provider Transamerica to end a $2 billion contract, citing reasons including a challenging macro environment.<\/p>\n\n\n\n<p>The 10-year contract, signed in early 2018, involved TCS working with U.S.-based Transameria to enable the digitization of more than 10 million policies into a single integrated platform.<\/p>\n\n\n\n<p>Administration of those policies, including life insurance and retirement and investment solutions, will be moved to a new servicing model, which will take about 30 months, TCS said.<\/p>\n\n\n\n<p>&#8220;It&#8217;s more of a sentimental negative rather than a big impact on the financials of TCS,&#8221; said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services.<\/p>\n\n\n\n<p>Indian IT companies, which draw a bulk of their revenue from the United States and Europe, have flagged a slowdown in the telecom and communication segment as clients contemplate spending cuts and project rampdowns to save cash.<\/p>\n\n\n\n<p>&#8220;We don&#8217;t see a big impact because of this. But yes, it&#8217;s a sign that the demand environment is not very good&#8221; Khemka said.<\/p>\n\n\n\n<p>TCS stock is currently trading 1.3% lower at 3,175 rupees.<\/p>\n<div class=\"rate-now\"><span id=\"rate-mypost15463\"><\/span> <span id=\"rate-points\"> 0<\/span><\/div>\n\t\t\t<script type=\"text\/javascript\">jQuery('#rate-mypost15463').raty({\n\t\t\t\thalfShow : true,\n\t\t\t\thalf: true,readOnly: true,score: 0,\n\t\t\t\tpath: \"https:\/\/investmentbell.com\/wp-content\/plugins\/userpro-rating\/images\/\"\n\t\t\t\t});<\/script>","protected":false},"excerpt":{"rendered":"<p>BENGALURU (Reuters) -Indian information technology (IT) company Tata Consultancy Services said on Friday it has mutually agreed with insurance provider Transamerica to end a $2 billion contract, citing reasons including a challenging macro environment. The 10-year contract, signed in early 2018, involved TCS working with U.S.-based Transameria to enable the digitization of more than 10 [&hellip;]<\/p>","protected":false},"author":13,"featured_media":15464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[],"class_list":{"0":"post-15463","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-overview-news"},"_links":{"self":[{"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/posts\/15463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/comments?post=15463"}],"version-history":[{"count":0,"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/posts\/15463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/media\/15464"}],"wp:attachment":[{"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/media?parent=15463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/categories?post=15463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investmentbell.com\/hi\/wp-json\/wp\/v2\/tags?post=15463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}