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Tech Mahindra drops plan to set-up payments bank operations

25 May 2016 Evaluate

Tech Mahindra has dropped its plans to set up payments bank operations in the country, becoming the third player to pull out from the race. The board of directors at its meeting held on May 24, 2016 has decided for the same.

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.


Peers
Company Name CMP
TCS 2436.30
Infosys 1120.65
HCL Technologies 1406.30
Wipro 193.20
Tech Mahindra 1773.70
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