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Jun. 21, 2013, 1:56 AM
May. 29, 2013, 10:17 PMTata Consultancy Services (TCS.BO) has scored a lucrative contract to modernize India's postal service. The six-year contract with the Department of Posts is valued at 1,100 crore ($196M). The goal of the India Post project is to transform the country's postal service into a "world class" system utilizing cutting-edge technologies. The contract may also be a bit of a domestic PR coup for Tata, best known as an outsourcer and India's largest exporter of software. | Comment!
May. 28, 2013, 5:55 AMIndian technology outsourcers such as Tata (TCS.BO) and Wipro (WIT) are widening their revenue streams by providing mortgage and foreclosure services to U.S. banks. The work will bring in an estimated $316M in revenue, double the amount in 2009. The outsourcers will vet applicants for mortgages and make sure that banks have all the documents needed to start foreclosure, although critics are wary about the lack of oversight of these third-party vendors. | Comment!
Jan. 17, 2013, 5:21 AMNokia (NOK) intends to reduce its IT headcount by more than 1,000 as it outsources its tech needs to Indian suppliers, with 820 workers set to move to HCL Technologies and Tata Consultancy Services. Over 300 jobs will be cut. The move is part of Nokia's restructuring in which it is slashing 10,000 positions. Shares +1.75% premarket. (PR) | 7 Comments
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