Business news · AI & Tech · 02 Oct 2026
AI: India AI · Enterprise software · TCS — more AI news
Tata Consultancy Services agreed with US electronics retailer Best Buy to take over the retailer's Global Capability Center in India under a multi-year arrangement. Best Buy's India staff move to TCS, and the centre is to be converted over time into what TCS calls an AI-native capability centre. Neither company disclosed the contract value or the number of employees transferring.
The finance angle is the direction of work rather than a disclosed figure: no contract value was given. Captive centres run by overseas companies have been taking work that once went to Indian IT vendors; here a client hands its captive back to a vendor, turning an in-house cost centre into TCS revenue and adding the staff to TCS's payroll. For listed peers such as Infosys, Wipro and HCLTech it is a deal structure to compete for, at a time when the Nifty IT index fell 11% in September. Best Buy pays a service fee in place of running the unit itself.
Reported by Angel One — “TCS Share Price in Focus; To Transition Best Buy India GCC into AI Capability Center” ↗ on 02 Oct 2026.
NSE stocks, from the last close on or before 02 Oct 2026 to the close on 16 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Information Technology | 40 | +7.1% | 32 of 40 | +7.4 pts |
| All tracked stocks | 804 | -0.3% | 383 of 804 | — |
| Company | Then | Now | Move |
|---|---|---|---|
| Tata Consultancy Services Ltd. TCS | ₹2,075 | ₹2,465 | +18.8% |
Official series on 02 Oct 2026 or the last day before it, and the latest observation.
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