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Tech Mahindra gains on inking JV pact with Midad Holding

22 Jul 2014 Evaluate

Tech Mahindra is currently trading at Rs 2135.00, up by 24.20 points or 1.15% from its previous closing of Rs 2110.80 on the BSE.

The scrip opened at Rs 2115.00 and has touched a high and low of Rs 2143.15 and Rs. 2101.60 respectively. So far 25524 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 1132.45 on 22-Jul-2013.

Last one week high and low of the scrip stood at Rs 2138.45 and Rs 2042.15 respectively. The current market cap of the company is Rs 50114.59 crore.

The promoters holding in the company stood at 36.15% while Institutions and Non-Institutions held 49.87% and 13.97% respectively.

Tech Mahindra has signed a joint venture agreement with Midad Holding, which is a subsidiary of Al Fozan, a pre-eminent group with diversified business interests in Saudi Arabia. The joint venture will be called Tech Mahindra Arabia and Tech Mahindra will have 51% ownership while Midad will own 49% stake in the joint venture. The regional strength of Midad Holding and the global connectivity of Tech Mahindra will create a synergic value proposition for customers in Saudi Arabia.

Moreover, Tech Mahindra Arabia, Headquartered in Al Khobar, will also have presence across other major cities in Saudi and will be functional post the regulatory approvals.

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.

 

Tech Mahindra Share Price

1511.85 20.95 (1.41%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
TCS 2581.65
Infosys 1318.60
HCL Tech. 1442.50
Wipro 204.35
Tech Mahindra 1511.85
View more..

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