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Tech Mahindra gains on launching blockchain technology for telecom sector in India

Tech Mahindra is currently trading at Rs. 822.00, up by 5.45 points or 0.67% from its previous closing of Rs. 816.55 on the BSE.

The scrip opened at Rs. 810.00 and has touched a high and low of Rs. 825.00 and Rs. 810.00 respectively. So far 18635 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 846.00 on 02-May-2019 and a 52 week low of Rs. 612.50 on 26-Jul-2018.

Last one week high and low of the scrip stood at Rs. 846.00 and Rs. 810.00 respectively. The current market cap of the company is Rs. 79249.13 crore.

The promoters holding in the company stood at 35.87%, while Institutions and Non-Institutions held 50.64% and 13.49% respectively.

Tech Mahindra has deployed a cutting-edge solution leveraging Blockchain Technology aiming to mitigate spam calls for telecom sector in India, which is impacting over 300 million mobile subscribers.

Tech Mahindra designed the Blockchain solution, constituting more than 25 per cent of the Indian market share, in compliance with the regulations and guidelines of TRAI (Telecom Regulatory Authority of India) in order to enable Telecom providers prevent unauthorized access of their subscribers’ data.

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.

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