BENGALURU/MUMBAI: Tata Consultancy Services, which ended initial talks with Dell for its Perot IT business after a disagreement over price, is back at the table and is locked in a bidding war with rivals such as US-based Cognizant, three people familiar with the negotiations said.

"TCS left when the asking price was too high. But over past two weeks there has been more movement on price from Dell. They still have not agreed on a price," said one of the people with direct knowledge of the talks.

MUMBAI/BENGALURU: Tata Consultancy Services negotiated with Dell to buy its information technology management business Perot Systems, but a disagreement over price resulted in the talks falling through, two people directly aware of the discussions said.

N Chandrasekaran, the CEO of India's largest software company, and TCS global head of merger and acquisitions Debasis Poddar, were involved in the talks that took place at least a week ago, according to the sources.

Shares of Tata Consultancy Services were up over 1% after the company announced that it has been selected by leading global aviation group Deutsche Lufthansa AG to provide testing services and help improve the quality of services of their technology operations.

The deal is part of Lufthansa's IT-transformation initiative to accelerate speed to market, improve customer experience and enable innovation and continuos improvement, the company said in a release.

After Tata Consultancy Services (TCS), Wipro too has issued a warning saying that disruption at its Chennai facilities due to recent floods and the costs associated with subsequent invocation of business continuity plans would have a material impact on the performance of the company in the October-December quarter of FY16.

Wipro’s warning comes on the heels of a similar announcement by India’s largest IT services firm Tata Consultancy Services.

Shares of TCS have slipped by over 1% to Rs 2,360 on the Bombay Stock Exchange (BSE) after the company announced that the recent flood in Chennai led to major disruptions in its ability to function.

The normal business functioning of company's facilities had to be halted in the city all week since December 1 due to flooding. This is expected to have a material impact on the company's revenues in the seasonally weak Q3 December 2015, it added.

Software major Tata Consultancy Services (TCS) emerged as the biggest wealth creator in the past five years, while MMTC and Reliance Industries topped the list of companies where investors lost the most, says a study.

According to wealth creation study conducted by financial services company Motilal Oswal, TCS created wealth worth Rs 3,458 billion for the period 2010-15, followed by ITC (Rs 1,565 billion) and HDFC Bank (Rs 1,540 billion).

IT major Tata Consultancy Service (TCS) has set aside Rs 1,100 crore interest free cash advances as relief for TCS employees in Chennai, which saw one of the worst floods in the last 100 years. The money will be disbursed towards loans to employees, grants and for other purposes.

A few days back, Cognizant announced $40 million (Rs 260 crore) to help residents, its employees and business partners in Chennai, with relief and rehabilitation in the aftermath of the recent flooding.

Shares of IT major TCS gave gained 1.7% to Rs 2,368 on the BSE after the company in a filing to the BSE stated that Oman Housing Bank (OHB) has chosen TCS BaNCS Universal Banking to provide an enhanced end-customer experience in its endeavor to become a leading housing finance bank in the region.

Oman Housing Bank (OHB) will replace its home-grown legacy systems with a comprehensive solution from TCS BaNCS covering loans, deposits, origination, payments, funds transfer and compliance.

Tata Consultancy Services (TCS), Bharat Heavy Electricals Limited (BHEL), Adani Ports & Special Economic Zone (SEZ) and Rallis India have touched their respective 52-week lows on the Bombay Stock Exchange (BSE) after the Sensex slipped 243 points in early morning trade.

At 09:54 AM, the TCS was down 1% at Rs 2,328 after hitting a 52-week low of Rs 2,322 on the BSE. Shares of India's largest information technology services company by falling 8% in past one month as compared to 3% decline in the benchmark index.

India’s largest software services firm Tata Consultancy Services today said it has partnered British Council to train 1,000 university graduates in the UK at its Innovation Labs and software development centres.

The announcement comes during the UK visit of Prime Minister Narendra Modi.

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