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Tech Mahindra shines on entering into strategic partnership with Prometeia

Mumbai : Tech Mahindra is currently trading at Rs. 712.55, up by 10.60 points or 1.51% from its previous closing of Rs. 701.95 on the BSE. The scrip opened at Rs. 709.00 and has touched a high and low of Rs. 714.70 and Rs. 707.00 respectively. So far 48966 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. 739.85 and Rs. 692.05 respectively. The current market cap of the company is Rs. 68840.29 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 and Prometeia, a leader in risk management consulting and software solutions have entered into strategic partnership to provide Governance, Risk and Compliance services to banks in order to improve their overall performance, in line with Basel III framework.

Basel III is a set of international banking regulations developed to promote stability in the international financial system. Tech Mahindra’s capabilities in banking risk management & compliance, business intelligence, analytics, data management and system integration, combined with Prometeia’s ability to provide local industry specialists, will help in effectively responding to regulatory challenges impacting banks all over the world. 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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