Defeating India's largest IT firm Tata Consultancy Services (TCS) and Wipro, Technology Services Company Hewlett-Packard won Rs 400-crore technology outsourcing contract from public sector lender Corporation Bank. California-based PC-maker bagged the seven-year contract on account of its higher technical competency despite the lower ask price by rivals.
The contract secured is for switching and managing the bank's core-banking software from the current version made by Polaris Financial Technology to Infosys’ Finacle. Further, the deal can be extended for a further three years at the bank's discretion. Under the terms, HP will also design and implement necessary enterprise software besides setting up and maintaining the bank's data centre.
| Company Name | CMP |
|---|---|
| State Bank Of India | 1044.65 |
| PNB | 107.40 |
| Bank Of Baroda | 271.65 |
| Canara Bank | 126.00 |
| Union Bank Of India | 175.00 |
| View more.. | |
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: