Infosys rallies on five-year service contract win from BP

NEW DELHI: Infosys rallied as much as 2.2 per cent in trade on Friday after the software exporter said it has signed a five-year contract with BP to improve the oil major's IT processes across key operations.

At 09:40 a.m.; Infosys was trading 1.3 per cent higher at Rs 3575. It hit a low of Rs 3722 and a high of Rs 3792.95 in trade today.

"Infosys has been selected to support BP in running and developing its business applications to improve the company's IT processes across all key BP operations," a spokeswoman for Infosys said, adding that "it is a new agreement, which replaces all other agreements we have with BP".

As per the ET report, the company did not provide any financial details of the deal. The spokeswoman said, "Infosys will provide both IT and business consulting services to BP.

It is a framework agreement that covers exploration and production, refining and marketing and business functions (including HR).