Tech Mahindra surges on forming a company in partnership with Falcorp in South Africa

07 May 2013

Tech Mahindra is currently trading at Rs. 1013.50, up by 12.75 points or 1.27% from its previous closing of Rs. 1000.75 on the BSE.

The scrip opened at Rs. 1005.20 and has touched a high and low of Rs. 1018.20 and Rs. 1004.00 respectively. So far 9450 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1123.80 on 04-Mar-2013 and a 52 week low of Rs. 591.05 on 18-May-2012.

Last one week high and low of the scrip stood at Rs. 1011.10 and Rs. 928.90 respectively. The current market cap of the company is Rs. 12918.60 crore.

The promoters holding in the company stood at 47.41% while Institutions and Non-Institutions held 43.34% and 9.26% respectively.

Tech Mahindra has launched Tech Mahindra South Africa in partnership with Falcorp. The newly formed company will be a Level 3 Broad-Based Black Economic Empowered (B-BBEE) company. Tech Mahindra South Africa will help create local job opportunities and invest heavily in skills development and employment equity over a period of 6-12 months. A dedicated Talent Exchange Program for the transfer of skills between India and South Africa will also be initiated.

Building on its commitment to bring the latest solution to the market, Tech Mahindra will bring its full range of Network and Mobility offerings to the African ICT sector. The offering of analytics for any business application including mobility, cloud and security solutions also forms part of its strategy.

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


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959.50 -8.75 (-0.90%) Mar 05, 18:59
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323