Business services company CMS Info Systems (NSE:CMSINFO, BOM:543441) has secured a 10-year contract worth 10 billion Indian rupees from State Bank of India (NSE:SBIN, BOM:500112), according to a Wednesday filing to the Indian stock exchanges.
The bank cash outsourcing contract will cover 5,000 bank-owned ATMs across India, which will include managed services.
The contract will start in January and is estimated to deliver incremental revenue growth of 5 billion rupees.
The company's shares were up nearly 4% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments