Tech Mahindra strengthens on inking MoU to support Smart City initiative

07 Jul 2014

Tech Mahindra is currently trading at Rs 2144.00, up by 28.30 points or 1.34% from its previous closing of Rs 2115.70 on the BSE.

The scrip opened at Rs 2120.00 and has touched a high and low of Rs 2148.00 and Rs 2120.00 respectively. So far 7894 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 2180.00 on 03-Jul-2014 and a 52 week low of Rs 1026.65 on 08-Jul-2013.

Last one week high and low of the scrip stood at Rs 2180.00 and Rs 2091.20 respectively. The current market cap of the company is Rs 50252.88 crore.

The promoters holding in the company stood at 36.29% while Institutions and Non-Institutions held 48.80% and 14.91% respectively.

Tech Mahindra has signed a Memorandum of Understanding (MoU) with the Dubai Economic Council (DEC) for providing innovative IT solutions to help achieve the status of ‘Smart City’. The DEC seeks to benefit from the private sectors’ spectacular experience in smart technologies to help connect not only Dubai’s community but also the UAE and the world.

Dubai is committed to create the vision of a ‘Connected World, Connected Solutions, Connected City’ and more importantly a secure city into a reality. The establishment of a joint Centre of Excellence will drive in an influx of new proof of concepts and solutions that can be utilized by various government departments in the efforts to shift to Smart City status.

Tech Mahindra’s expertise across various technology based verticals is expected to reinforce the shift--like helping streamline services in healthcare, education, security, energy, logistics, financial services, hospitality and real estate. Additionally, Citizen Benefit Value Analysis will be a key value driver in ensuring the success of this Centre of Excellence; acting as a performance benchmark measured by the Steering Committee of the centre itself.

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Tech Mahindra Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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