Tech Mahindra spurts on securing contract worth $75 million

03 Jun 2016

Tech Mahindra is currently trading at Rs. 552.90, up by 6.65 points or 1.22% from its previous closing of Rs. 546.25 on the BSE.

The scrip opened at Rs. 550.05 and has touched a high and low of Rs. 557.10 and Rs. 549.15 respectively. So far 79145 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 581.95 on 28-Sep-2015 and a 52 week low of Rs. 407.50 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 563.75 and Rs. 533.40 respectively. The current market cap of the company is Rs. 53553.18 crore.

The promoters holding in the company stood at 36.44% while Institutions and Non-Institutions held 49.15% and 14.34% respectively.

Tech Mahindra has been selected by Department of Motor Vehicles (DMV) of the State of Nevada to be the prime system integrator for the System Modernization or ‘SysMod’ project - a transformational initiative to modernize the DMV operations. The total contract value including infrastructure and services is $75 million over a five-year period.

The company’s solution MOVES will form the basis of the transformational journey. The solution will be migrated to the Oracle technology stack and will provide customer service experience across multiple channels.

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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Tech Mahindra Share Price

761.60 4.95 (0.65%) Nov 14, 16:29
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
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