Saturday , September 18 2021

Tech Mahindra gains on acquiring 70% stake in Perigord

Tech Mahindra is currently trading at Rs. 1011.60, up by 7.70 points or 0.77% from its previous closing of Rs. 1003.90 on the BSE.

The scrip opened at Rs. 1007.00 and has touched a high and low of Rs. 1015.15 and Rs. 1001.55 respectively. So far 52934 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 1081.35 on 11-Jan-2021 and a 52 week low of Rs. 470.25 on 23-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1024.45 and Rs. 961.80 respectively. The current market cap of the company is Rs. 97194.17 crore.

The promoters holding in the company stood at 35.79%, while Institutions and Non-Institutions held 52.59% and 11.45% respectively.

Tech Mahindra has acquired 70% stake in Perigord Asset Holdings (Perigord), a digital workflow and artwork, labelling and BPO services firm. This acquisition will help company to augment expertise in the global pharmaceutical, healthcare and life science (HLS) sectors.

The strategic partnership will strengthen the company’s position as a leading digital transformation enabler in the artwork and packaging services space with an integrated platform and services portfolio. Additionally, Tech Mahindra will leverage Perigord’s expertise and offerings to extend capabilities towards delivering efficiency and automation levers, across sectors including consumer-packaged goods (CPG), medical devices and over the counter (OTC) products to enable growth and scalability in the future. The acquisition is a part of company’s long-term growth plan to build presence across key markets in Ireland, Germany, USA, and India with enhanced global delivery.

Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise.

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