Infosys, TCS buoyed by big contracts in Q2

The September 2019 quarter has brought good tidings for both Tata Consultancy Services (TCS) and Infosys.

Both the firms reported a record Total Contract Value (TCV) — the size of deal struck with customers — of $9.2 billion (combined). TCV reflects an IT company’s ability to win large deals, including renewals.

TCS reported a TCV of $6.4 billion in Q2 — the highest in the last six quarters. Similarly, Infosys recorded a TCV of $2.8 billion, the highest-ever for the company.

Wipro has not provided the deal numbers. These numbers suggest that the environment is turning positive for the IT sector.