Tech Mahindra Ltd.

Tech Mahindra is currently trading at Rs. 823.15, up by 3.00 points or 0.37% from its previous closing of Rs. 820.15 on the BSE.

The scrip opened at Rs. 822.00 and has touched a high and low of Rs. 825.00 and Rs. 809.60 respectively. So far 45200 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 846.00 on 02-May-2019 and a 52 week low of Rs. 607.90 on 31-Jul-2019.

Last one week high and low of the scrip stood at Rs. 845.70 and Rs. 809.60 respectively. The current market cap of the company is Rs. 79086.20 crore.

The promoters holding in the company stood at 35.87%, while Institutions and Non-Institutions held 52.86% and 11.26% respectively.

Tech Mahindra has signed an agreement to acquire 100 per cent stake in US-based Zen3 Infosolutions for $64 million (Rs 460 crore) in an all-cash deal. Headquartered in Seattle, Zen 3 has over 1,300 employees spread across offices in Seattle, Dublin, Hyderabad, Vishakhapatnam and Bengaluru. The acquisition of Zen3 Infosolutions is in line with our strategy to build new capabilities.

The company will acquire 100 per cent stake in Zen3 Infosolutions for $64 million or about Rs 460 crore out of which $42 million or about Rs 300 crore will be paid at closing and the remaining is linked to the financial performance of the Microsoft customer account for the upcoming three years.

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.