Tech Mahindra Ltd.

Tech Mahindra is currently trading at Rs. 1802.95, up by 0.70 points or 0.04 % from its previous closing of Rs. 1802.25 on the BSE.

The scrip opened at Rs. 1795.00 and has touched a high and low of Rs. 1810.85 and Rs. 1751.20 respectively. So far 26244 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. 1936.35 and Rs. 1762.00 respectively. The current market cap of the company is Rs. 42122.15 crore.

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

BSE and NSE have given approval for the merger of Mahindra Engineering Services (MES) with Tech Mahindra. The exchanges have granted ‘no-objection approval’ to the proposed scheme, while this observation letter would be valid for six months, within which period the company would have to file the scheme with the High Court for further clearance.

The boards of Tech Mahindra and MES had approved the proposal in November last year.

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.