Tata Consultancy Services (TCS), India's leading IT services provider, has issued a clarification in response to a recent article published by The Telegraph in the UK. The article, titled 'M&S ousts Indian outsourcer accused of £300m cyberattack failures,' contained several inaccuracies regarding TCS's relationship with Marks & Spencer (M&S), according to the company.

Key Points of TCS's Clarification

1. Contract Size and Service Continuity: TCS stated that The Telegraph's report contained factual inaccuracies regarding the size of the contract and the continuity of TCS's work for M&S.

2. Service Desk Contract: The company explained that M&S's decision to proceed with other partners for the service desk contract was the result of a competitive Request for Proposal (RFP) process initiated in January 2025, well before a cyber incident in April 2025.

3. Ongoing Partnership: TCS emphasized that the service desk contract represents only a small portion of its overall engagement with M&S. The company continues to work with M&S as a strategic partner in numerous other areas.

4. Cyber Incident: Regarding the reported cyber incident, TCS confirmed that it had conducted network scans and concluded that the vulnerabilities did not originate from its systems. The company also clarified that it does not provide cybersecurity services to M&S.

Timeline of Events

TCS's swift response to The Telegraph's article underscores the company's commitment to maintaining transparency and addressing potential misinformation. By providing a detailed clarification, TCS aims to reassure its stakeholders and maintain its reputation as a reliable IT services partner.

The clarification also highlights the importance of accurate reporting in the technology and business sectors, where misinformation can have significant impacts on company reputations and market perceptions. As global IT services continue to play a crucial role in business operations, clear communication between service providers, clients, and the media becomes increasingly vital.

Tata Consultancy Services (TCS), India's leading IT services company, witnessed a significant block trade on the National Stock Exchange (NSE) recently. The transaction involved a substantial number of shares, highlighting continued interest in the tech giant's stock.

Block Trade Details

A block trade, typically involving a large number of shares, was executed for TCS stock on the NSE. Here are the key details of the transaction:

This block deal represents a notable transaction in TCS shares, indicating potential institutional interest or a significant shareholder movement.

Market Implications

While the specific parties involved in the transaction were not disclosed, block trades of this magnitude often attract attention from market participants. Such deals can sometimes provide insights into institutional investor sentiment or large shareholders' positions.

It's important to note that block trades don't necessarily indicate a change in the company's fundamentals or overall market sentiment. They are often pre-arranged transactions between two parties, executed through the exchange to ensure transparency and price discovery.

About TCS

Tata Consultancy Services is one of India's largest IT services and consulting companies, known for its global presence and diverse range of technology solutions. The company has consistently been a top performer in the Indian stock market and is a constituent of major market indices.

Investors and market analysts will likely continue to monitor TCS's stock performance and any further significant trades, as they can provide valuable insights into market dynamics and investor sentiment towards the IT sector.