Tech Mahindra shares rise 8 percent


Tech Mahindra shares rise 8 percent
Bangalore: Tech Mahindra stock was among the top gainers after its price went up by nearly 8 percent. After opening the day at 735, the stock touched its 52 week high of 1158, before closing trade at 727.95, with a gain of 7.84 percent. Through the day, 1228428 shares of Tech Mahindra were traded in the market with the P/E ratio of 13.22. The 52 week stock price chart is on the left. Tech Mahindra is a provider of information technology (IT), networking technology solutions and business process outsourcing (BPO) services to the global telecommunications industry. The company's subsidiaries include CanvasM Technologies, Tech Mahindra (Americas), Tech Mahindra GmbH, Tech Mahindra (Singapore), Tech Mahindra (Thailand), PT Tech Mahindra Indonesia, Tech Mahindra Foundation, Tech Mahindra (Beijing) IT Services, Tech Mahindra (Malaysia), Venturbay Consultants Private Limited (VCPL), Mahindra Logisoft Business Solutions, Tech Mahindra (Nigeria) and Tech Mahindra (Bahrain). In April 2010, AT&T sold its remaining stake of more than 7 percent in Tech Mahindra. On August 18, 2009, the company incorporated Tech Mahindra (Nigeria). On April 11, 2009, the Company completed the acquisition of Mahindra Logisoft Business Solutions (MLBSL). The consensus recommendation is to hold the stock with 8 analysts suggesting to buy the stock and other 8 analysts suggesting to hold the stock.