Tech Mahindra trades higher on the bourses

20 Mar 2014

Tech Mahindra is currently trading at Rs. 1816.80, up by 40.25 points or 2.27% from its previous closing of Rs. 1776.55 on the BSE.

The scrip opened at Rs. 1772.00 and has touched a high and low of Rs. 1817.80 and Rs. 1759.50 respectively. So far 41081 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1936.35 on 06-Mar-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. 1824.00 and Rs. 1731.20 respectively. The current market cap of the company is Rs. 42216.57 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, has inaugurated its 3rd near shore delivery center in Dusseldorf, Germany. The Dusseldorf 50-seat center is an important milestone in the company’s increasing network of delivery centers in Europe. The company already serves its European customers through 26 offices across 31 cities. The company had opened 2 centers last year in Den Haag and Brussels. 

The opening of this centre will bring the company closer to some of its key customers in the Nordrhein-Westfalen (NRW) region. The center is well supported by the German recruitment, Human Resources and Accounts teams and will be fully integrated with its global delivery infrastructure.

Besides, the company aims to ramp-up its presence in the region significantly within the next few months. The center also plans to engage with local academia to provide work experience to the students. Tech Mahindra derives 31% of its revenues from European markets and this is an important milestone in the growth journey.

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