Tech Mahindra trades higher on the bourses

24 Jul 2015

Tech Mahindra is currently trading at Rs. 508.60, up by 8.30 points or 1.66% from its previous closing of Rs. 500.30 on the BSE.

The scrip opened at Rs. 500.00 and has touched a high and low of Rs. 511.25 and Rs. 495.05 respectively. So far 143278 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 749.50 on 02-Feb-2015 and a 52 week low of Rs. 458.70 on 06-Jul-2015.

Last one week high and low of the scrip stood at Rs. 520.35 and Rs. 491.20 respectively. The current market cap of the company is Rs. 49119.37 crore.

The promoters holding in the company stood at 36.68% while Institutions and Non-Institutions held 48.15% and 15.17% respectively.

Tech Mahindra, a specialist in digital transformation, consulting and business re-engineering, has chosen partners for its Intelligent Electric Vehicle Charging Systems (IEVCS) project along with Ontario based local distribution company, Niagara-on-the-lake Hydro. Partners for this project include San Diego Gas & Electric (SDG&E), SAP Canada and Nissan Canada. This project is sponsored by the Ministry of Energy and funded in part through the Ontario Grid Fund Initiative.

The company will focus on the development of an integrated hardware-software solution that allows utilities to gather data on both EV charging patterns and local transformer performance. Enrolling 10-15 EV users in Niagara-on-the-lake, this project will help utilities plan for future EV impacts on the distribution system, and through an In-Home Display, will help consumers manage energy to be completed by the end of September 2016.

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.

Related Tech Mahindra Ltd. Links:

Tech Mahindra Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719