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Tech Mahindra surges on getting RBI’s permission to raise FII limit to 35%

03 Sep 2013 Evaluate

Tech Mahindra is currently trading at Rs. 1399.00, up by 24.20 points or 1.76% from its previous closing of Rs. 1374.80 on the BSE.

The scrip opened at Rs. 1390.00 and has touched a high and low of Rs. 1409.00 and Rs. 1385.00 respectively. So far 36063 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1428.00 on 30-Aug-2013 and a 52 week low of Rs. 800.55 on 03-Sep-2012.

Last one week high and low of the scrip stood at Rs. 1428.00 and Rs. 1347.35 respectively. The current market cap of the company is Rs. 32433.31 crore.

The promoters holding in the company stood at 47.17% while Institutions and Non-Institutions held 42.62% and 10.22% respectively.

Reserve Bank of India (RBI) has allowed Tech Mahindra to raise the purchasing limit of equity shares and convertible debentures by foreign institutional investors (FIIs) in the company by up to 35% of the paid up capital. As of June quarter 2013, FIIs had holding of 26.79% in the company, as per data available on the BSE

The company passed resolutions at the Board of Directors' level and a special resolution by the shareholders, approving to enhance the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs), through primary market and stock exchanges up to 35% of the paid up capital of the company under Portfolio Investment Scheme.

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

 

Tech Mahindra Share Price

1511.85 20.95 (1.41%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
TCS 2581.65
Infosys 1318.60
HCL Tech. 1442.50
Wipro 204.35
Tech Mahindra 1511.85
View more..

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