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Tech Mahindra gains on the bourses

Tech Mahindra is currently trading at Rs. 715.65, up by 6.50 points or 0.92% from its previous closing of Rs. 709.15 on the BSE.

The scrip opened at Rs. 710.60 and has touched a high and low of Rs. 723.60 and Rs. 710.60 respectively. So far 24010 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. 725.00 and Rs. 694.10 respectively. The current market cap of the company is Rs. 68919.25 crore.

The promoters holding in the company stood at 35.90%, while Institutions and Non-Institutions held 50.80% and 13.12% respectively.

Tech Mahindra is setting up a media innovation lab in Manchester, United Kingdom, to develop next generation solutions. The announcement was made on back of IBC 2019 (International Broadcasting Convention) held at Amsterdam RAI Fairground.

The media innovation lab in Manchester will leverage Amazon Web Services (AWS) offerings and fuel co-innovation, targeting media customers in Manchester Media City and nearby regions. The lab will help in delivering qualitative content to end customers quickly and monetize the value of content faster. The lab will focus on future business models and underlying use cases focusing on millennials, Gen Z and Gen X.

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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