Tech Mahindra, country's sixth largest software exporter, has secured US$ 700-million contract from British Telecom (BT) for transforming and improving BT’s IT infrastructure. This is one of the largest contracts that any IT company has won in recent months. Earlier, Tech Mahindra had won a USD 350-million contract and a USD 1 billion IT outsourcing deal from BT.

BT is Tech Mahindra’s largest client. Its second largest client is American telecom major AT&T, while Motorola and Alcatel-Lucent are also among the software exporter’s top five clients. BT accounts for little under 60% of the total business of Tech Mahindra.

Recently, Tech Mahindra also expanded its mobile virtual network operator (MVNO) client base by entering into IT partnership with Dubai-based FRiENDi mobile, the MVNO in the Middle East and North Africa.

At 10:30 am, Tech Mahindra was quoting at Rs 970, up Rs 37, or 4%. It has touched an intraday high of Rs 990 and an intraday low of Rs 961.