Tech Mahindra gains on receiving nod to increase FII limit to 48%

05 Feb 2014

Tech Mahindra is currently trading at Rs. 1823.10, up by 53.60 points or 3.03% from its previous closing of Rs. 1769.50 on the BSE.

The scrip opened at Rs. 1821.35 and has touched a high and low of Rs. 1845.00 and Rs. 1815.00 respectively. So far 44,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1906.00 on 14-Jan-2014 and a 52 week low of Rs. 895.25 on 21-May-2013.

Last one week high and low of the scrip stood at Rs. 1845.00 and Rs. 1690.00 respectively. The current market cap of the company is Rs. 42,539.00 crore.

The promoters holding in the company stood at 36.34% while Institutions and Non-Institutions held 49.50% and 14.15% respectively.

Tech Mahindra has received approval to increase the limit of investment by Foreign Institutional Investors (FIIs) from the existing 45% to 48% of the paid up capital of the Company. The board at its meeting held on February 04, 2014 has approved for the same.

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