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Tech Mahindra gains on partnering with Mahindra TEQO

Tech Mahindra is currently trading at Rs. 758.00, up by 1.35 points or 0.18% from its previous closing of Rs. 756.65 on the BSE.

The scrip opened at Rs. 756.65 and has touched a high and low of Rs. 763.40 and Rs. 748.40 respectively. So far 32680 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. 607.90 on 31-Jul-2019.

Last one week high and low of the scrip stood at Rs. 777.60 and Rs. 746.65 respectively. The current market cap of the company is Rs. 72714.55 crore.

The promoters holding in the company stood at 35.88%, while Institutions and Non-Institutions held 51.96% and 11.98% respectively.

Tech Mahindra has entered into a partnership with Mahindra TEQO (Technology, Quality and Operations), the newly formed renewable energy asset management company, to create digital solutions for the global renewable energy industry.

The solutions, developed by leveraging next generation technologies like Artificial Intelligence, Machine Learning, Augmented Reality , Virtual Reality and IIoT (Industrial Internet of Things) have the potential to decrease operating and maintenance expenses by 20%, enabling customers to optimize their renewable energy assets. This partnership will create a digital ecosystem for the global renewable energy industry, deliver high quality, end-to-end, integrated solutions to customers worldwide and provide powerful support for customers throughout the lifecycle of the asset.

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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