Tech Mahindra shines as its arm enters into partnership with TRACE TV

07 Nov 2014

Tech Mahindra is currently trading at Rs. 2645.70, up by 33.30 points or 1.27% from its previous closing of Rs. 2612.40 on the BSE.

The scrip opened at Rs. 2597.00 and has touched a high and low of Rs. 2665.00 and Rs. 2594.70 respectively. So far 23475 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2665.00 on 07-Nov-2014 and a 52 week low of Rs. 1526.10 on 06-Nov-2013.

Last one week high and low of the scrip stood at Rs. 2665.00 and Rs. 2450.00 respectively. The current market cap of the company is Rs. 62465.28 crore.

The promoters holding in the company stood at 35.99%, while Institutions and Non-Institutions held 50.27% and 13.74% respectively.

Mahindra Comviva, a subsidiary of Tech Mahindra and a part of the USD 16.5 billion Mahindra Group, has entered into partnership with TRACE TV, one of the leading music channels to launch TRACE Music Stars across all Airtel operations in Africa. Contestants will have the chance to compete for a grand prize of 30,000 Euros and a recording deal with Universal Music. The winner will travel to New York to be personally mentored by American R&B and hip hop recording artist, songwriter, and record producer, AKON. The grand finale will be held on March 2015. This is the first of its kind partnership to promote Music Karaoke and VAS.

Mahindra Comviva is providing a complete ecosystem and end-to-end solution for the rapid deployment, provisioning, execution, management and billing of various value added services to enable this initiative. Additionally, Mahindra Comviva’s mKaroke will provide the users with real-time singing analysis and voice supervision to deepen the user engagement.

TRACE Music Stars will be executed as a large-scale branding campaign and value added music service, available exclusively for Airtel subscribers. It is an IVR based music competition that gives subscribers the opportunity to become the next big music star in their country and possibly across Africa and the world without having to go through long and expensive traditional castings. The competition will offer participants an option to rehearse on a phone karaoke that scores their performance. On scoring low points the contestants can try again without having to stand in long queues.

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