Tech Mahindra surges on entering into a partnership with Acidaes Solutions

18 Feb 2014

Tech Mahindra is currently trading at Rs. 1827.25, up by 1.95 points or 0.11% from its previous closing of Rs. 1825.30 on the BSE.

The scrip opened at Rs. 1815.25 and has touched a high and low of Rs. 1834.85 and Rs. 1815.25 respectively. So far 8117 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. 1884.90 and Rs. 1807.00 respectively. The current market cap of the company is Rs. 42581.40 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 a specialist provider of connected solutions to the connected world and enabling future digital enterprises has entered into a global strategic business partnership with Acidaes Solutions, the owners of CRMnext Solution, which will primarily focus on the global banking and financial services sector.

The partnership aims to develop and deliver scalable enterprise CRM solutions in the Banking and Financial Services space. This space is expected to grow exponentially by 2015. This partnership will empower Tech Mahindra and CRMnext to be at the forefront of the customer experience revolution. Tech Mahindra and CRMnext will jointly develop strategies and solutions for CRM Implementations, in the BFSI space.

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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