India's Tech Mahindra Wins $1 Billion Deal from Britain's BT Group

India's Tech Mahindra has won a $1 billion outsourcing deal, the biggest ever for an Indian company, from Britain's BT Group.

The five-year contract requires Tech Mahindra to support BT in managing services to its customers around the world and provide services related to BT's internal systems and business processes, the company said in a statement late Wednesday.

"This contract is expected to create new revenue for Tech Mahindra in excess of US$1 Billion over this (a five-year) period," the statement said.

The news lifted Tech Mahindra's stock prices by 8.6 percent to 1,351 rupees in early trading on the Bombay Stock Exchange Thursday.