Tech Mahindra soars on plan to develop internet of Things Ecosystem

19 Sep 2014

Tech Mahindra is currently trading at Rs. 2484.00, up by 55.05 points or 2.27% from its previous closing of Rs. 2428.95 on the BSE.

The scrip opened at Rs. 2430.00 and has touched a high and low of Rs. 2484.00 and Rs. 2430.00 respectively. So far 13001 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2521.80 on 05-Sep-2014 and a 52 week low of Rs. 1278.55 on 19-Sep-2013.

Last one week high and low of the scrip stood at Rs. 2484.00 and Rs. 2399.05 respectively. The current market cap of the company is Rs. 57812.36 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, a specialist provider of connected solutions, will work together with Bosch Software Innovations, the software and systems house of the Bosch group to develop an ecosystem to enable innovative solutions for the connected world and connected enterprises. By 2022, around 14 billion devices are expected to be connected directly or indirectly with the internet.

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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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323