'Misleading': TCS clarifies on '£300m cyberattack failures' report; stock reacts
The IT major called the report "misleading" and said it contained factual inaccuracies regarding the size of the contract and the continuity of its work with Marks & Spencer (M&S).
- Oct 27, 2025,
- Updated Oct 27, 2025 11:37 AM IST
Shares of Tata Consultancy Services Ltd (TCS) rose nearly 1 per cent in Monday's trade as the company issued a clarification regarding a UK media report linking it to a "£300 million cyberattack" incident. The stock gained 0.99 per cent to hit a high of Rs 3,092.70 on BSE.
In a statement, TCS responded to an international news article published on October 26, 2025, titled "M&S ousts Indian outsourcer accused of £300m cyberattack failures." The IT major called the report "misleading" and said it contained factual inaccuracies regarding the size of the contract and the continuity of its work with Marks & Spencer (M&S).
TCS clarified that the service desk contract with M&S was awarded through a regular competitive RFP process initiated in January 2025. It added that M&S had chosen to proceed with other partners well before the cyber incident in April 2025, making the two matters unrelated. The company further noted that the commercial value of the service desk work was insignificant compared to its overall engagement with M&S.
Reaffirming its relationship with the British retailer, TCS said it continues to work on several strategic areas with M&S and remains proud of the long-standing partnership. The company also stated that it had conducted an internal scan of its networks and systems, confirming that vulnerabilities did not originate from its infrastructure. TCS added that it does not provide cybersecurity services to M&S, as that responsibility lies with another partner.
Separately, TCS announced an extension of its 15-year partnership with Kingfisher Plc, a leading home improvement retailer operating across seven countries in the UK and Europe. Under the renewed agreement, TCS will help Kingfisher enhance operational efficiency through automation and artificial intelligence (AI). Both organisations will also establish a joint 'Innovation and Automation Office' to drive digital transformation and reduce operating costs.
Shares of Tata Consultancy Services Ltd (TCS) rose nearly 1 per cent in Monday's trade as the company issued a clarification regarding a UK media report linking it to a "£300 million cyberattack" incident. The stock gained 0.99 per cent to hit a high of Rs 3,092.70 on BSE.
In a statement, TCS responded to an international news article published on October 26, 2025, titled "M&S ousts Indian outsourcer accused of £300m cyberattack failures." The IT major called the report "misleading" and said it contained factual inaccuracies regarding the size of the contract and the continuity of its work with Marks & Spencer (M&S).
TCS clarified that the service desk contract with M&S was awarded through a regular competitive RFP process initiated in January 2025. It added that M&S had chosen to proceed with other partners well before the cyber incident in April 2025, making the two matters unrelated. The company further noted that the commercial value of the service desk work was insignificant compared to its overall engagement with M&S.
Reaffirming its relationship with the British retailer, TCS said it continues to work on several strategic areas with M&S and remains proud of the long-standing partnership. The company also stated that it had conducted an internal scan of its networks and systems, confirming that vulnerabilities did not originate from its infrastructure. TCS added that it does not provide cybersecurity services to M&S, as that responsibility lies with another partner.
Separately, TCS announced an extension of its 15-year partnership with Kingfisher Plc, a leading home improvement retailer operating across seven countries in the UK and Europe. Under the renewed agreement, TCS will help Kingfisher enhance operational efficiency through automation and artificial intelligence (AI). Both organisations will also establish a joint 'Innovation and Automation Office' to drive digital transformation and reduce operating costs.