Tech Mahindra soars on entering into partnership with Perpetual

08 Nov 2013

Tech Mahindra is currently trading at Rs. 1676.65, up by 96.45 points or 6.10% from its previous closing of Rs. 1580.20 on the BSE.

The scrip opened at Rs. 1608.00 and has touched a high and low of Rs. 1685.40 and Rs. 1608.00 respectively. So far 5, 03,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1605.00 on 07-Nov-2013 and a 52 week low of Rs. 865.25 on 07-Dec-2012.

Last one week high and low of the scrip stood at Rs. 1685.40 and Rs. 1516.30 respectively. The current market cap of the company is Rs. 38,971 crore.

The promoters holding in the company stood at 36.46% while Institutions and Non-Institutions held 47.72% and 15.81% respectively.

Tech Mahindra has entered into a partnership with Perpetual to provide registry services. Tech Mahindra will assume responsibility for Perpetual’s existing registry capability supporting its Wholesale, WealthFocus and Select investment, superannuation and pension products. The agreement covers both administration and technology services. All client facing services remain with Perpetual.

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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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323