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Tech Mahindra advances on tying-up with Telit on enabling end-to-end IoT solutions

08 Aug 2016

Tech Mahindra is currently trading at Rs. 498.85, up by 3.60 points or 0.73% from its previous closing of Rs. 495.25 on the BSE.

The scrip opened at Rs. 495.25 and has touched a high and low of Rs. 500.20 and Rs. 495.25 respectively. So far 8,480 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. 509.85 and Rs. 476.55 respectively. The current market cap of the company is Rs. 48,465.64 crore.

The promoters holding in the company stood at 36.32%, while Institutions and Non-Institutions held 50.33% and 13.36% respectively.

Tech Mahindra has entered into a multi-faceted collaboration with Telit, a global enabler of the Internet of Things (IoT), for developing complete solutions for Internet of Things (IoT). The agreement includes combining and integrating Telit’s portfolio of IoT products and services with Tech Mahindra’s system integration capability and to develop solutions.

Further, both companies are also pursuing new business opportunities across many markets and industries, such as IoT horizontal and Industrial IoT around the world. Also, Telit will outsource related engineering development and testing activities to Tech Mahindra. Additionally, Telit has reached an agreement to outsource related engineering development and testing activities to Tech Mahindra.

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra.

Related Tech Mahindra Ltd. Links:

Tech Mahindra Share Price

1529.00 4.80 (0.31%) Oct 22, 09:25
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323