Tech Mahindra is currently trading at Rs. 2614.00, up by 6.70 points or 0.26% from its previous closing of Rs. 2607.30 on the BSE.
The scrip opened at Rs. 2609.00 and has touched a high and low of Rs. 2628.00 and Rs. 2593.00 respectively. So far 14173 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2741.00 on 21-Nov-2014 and a 52 week low of Rs. 1661.20 on 09-Dec-2013.
Last one week high and low of the scrip stood at Rs. 2705.00 and Rs. 2587.05 respectively. The current market cap of the company is Rs. 61437.42 crore.
The promoters holding in the company stood at 35.99 % while Institutions and Non-Institutions held 50.27 % and 13.74 % respectively.
Tech Mahindra, a specialist provider of connected solutions, has launched Usage Based Insurance (UBI), a big data and predictive analysis driven platform for auto insurers. It allows them to adjust premiums according to actual usage patterns of individual drivers instead of industry averages. The platform is flexible to fit to the growing needs of global insurance enterprises, where the market is expected to grow $100 billion plus by the end of the decade.
The solution utilizes the capabilities of Tech Mahindra and AT&T in the areas of multi-vertical, engineering and infrastructure capabilities. As a result of this, the global insurers can reduce their claim costs by up to 20%, while reducing eligible insured driver premiums up to 40%. This Usage Based Insurance solution is hosted on the seamless AT&T cloud and served through AT&T’s global Machine-to-Machine (M2M) capabilities.
The initial launch encompasses two products, UBI Lite and UBI Plus. UBI Plus offers a big data driven approach that takes into account real time physical world data to provide accurate information.
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.