Tech Mahindra surges on foraying into Mexico as part of expansion strategy

Tech Mahindra is currently trading at Rs 1765.85, up by 23.15 points or 1.33% from its previous closing of Rs. 1742.70 on the BSE. The scrip opened at Rs 1740.00 and has touched a high and low of Rs 1767.95 and Rs 1740.00 respectively. So far 9906 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. 1849.85 and Rs 1728.00 respectively. The current market cap of the company is Rs 41062.12 crore. The promoters holding in the company stood at 36.29% while Institutions and Non-Institutions held 48.80% and 14.91% respectively. Tech Mahindra a specialist provider of connected solutions to the connected world, has  entered into Mexico as part of its expansion strategy in the Americas region. Tech Mahindra in Mexico will offer an array of innovative solutions and consulting services focused on meeting the needs of customers in various industries such as Telecom, Banking, Energy, Manufacturing, Retail distribution, Insurance and many others. The company will establish partnerships with local universities, business schools and trade bodies to enable creation of 500 jobs in the next 24 months. 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.