CMS Info Systems Bags 10-Year Contract Worth INR10 Billion; Shares Up 4%

MT Newswires Live

01/07

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.

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