Tata Consultancy Services (TCS), a leading software-services provider based in India, has bagged a $100 million contract from Kimberly-Clark, according to Reuters. The market responded positively to the news, and the shares of TCS closed up by $0.69 at $24.41.
Dallas-based Kimberly-Clark, which makes Huggies diapers and Kleenex tissues, joins a rapidly growing number of foreign firms that outsource design work, supply-chain management and payroll processing to India.
TCS officials could not be reached for comment, but Reuters, quoting its source said that the contract would last for several years.
Earlier this month, the firm said it had bagged a $90 million contract from Australias Qantas Airways.