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Tech Mahindra trades higher on the bourses

Tech Mahindra is currently trading at Rs. 734.00, up by 7.75 points or 1.07% from its previous closing of Rs. 726.25 on the BSE.

The scrip opened at Rs. 724.85 and has touched a high and low of Rs. 737.40 and Rs. 723.05 respectively. So far 37455 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. 737.40 and Rs. 715.90 respectively. The current market cap of the company is Rs. 70926.57 crore.

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

Samsung SDS has entered into a collaboration with Tech Mahindra and Pega to launch a blockchain-based traceability solution integrating Pega Platform with Samsung SDS Nexledger Universal. This solution will be showcased across several industry events, including ENG’s 4th Annual Automotive Warranty Management USA Summit.

Earlier this year Samsung SDS and Tech Mahindra had announced their strategic collaboration on Samsung SDS’s blockchain platform, Nexledger. Nexledger, a blockchain platform developed by Samsung SDS, is flexible and scalable with the ability to deliver wide spectrum of enterprise specific requirements. Tech Mahindra also contributes to improve Nexledger capabilities by participating in the engineering and development process of the Nexledger platform.

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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