Tech Mahindra gains on inking agreement with Bombardier Commercial Aircraft

06 Oct 2015

Tech Mahindra is currently trading at Rs. 577.30, up by 7.65 points or 1.34% from its previous closing of Rs. 569.65 on the BSE.

The scrip opened at Rs. 576.40 and has touched a high and low of Rs. 578.10 and Rs. 575.00 respectively. So far 8,264 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. 581.95 and Rs. 538.20 respectively. The current market cap of the company is Rs. 55,613.00 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 has signed an agreement with Bombardier Commercial Aircraft for developing the Aircraft Ground Support System (AGSS) for Bombardier's Aircraft Health Management System (AHMS) for the C Series family of aircraft. The AGSS will facilitate real-time and post-flight recorded data management, fault notification and diagnostic reporting. By leveraging the large amount of data recorded and transmitted from C Series aircraft, the AHMS will allow operators to make sound decisions on aircraft performance and maintenance.

The company’s digital solutions for the AHMS will leverage cutting-edge Cloud Computing, Sensor, Internet of Things (I0T) and Big Data technologies to perform deep analytics of the aircraft's health status.

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

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