Tech Mahindra shares opened at 700.50 on Friday. The stocks rose by 3.06 percent ahead of union budget. The stock closed at 679.15.
The BSE group ‘A’ stock of face value Rs 5 has touched a 52-week high of Rs 846 on 2 May 2019 and a 52-week low of Rs 612.50 on 26 July 2018.
Tech Mahindra shares have risen by a tepid 6% in the last one year compared with a 12% jump in the benchmark Nifty 50 index.
The promoter holding in the company stood at 35.87%, while Institutions and Non-Institutions held 50.64% and 13.49%, respectively.
Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra and Mahindra. The company, since 2002, has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.
Tech Mahindra earlier this week announced a strategic partnership with SSH.com, a cryptographic cyber security network, to deploy cutting edge cybersecurity solutions to secure access control for enterprises.
Through this partnership, Tech Mahindra will bolster its Identity and Access Management portfolio by adding two extensive enterprise solutions - Universal SSH Key Manager(UKM) and Privileged Access Management solution (PrivX). These solutions aim to protect enterprise businesses from unforeseen security breaches arising due to bypass of older solutions in the Privileged Access Management (PAM) space.
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