Tuesday, 3 November 2015

Tech Mahindra stock down ahead of Q2 results

The IT Company is scheduled to announce its September quarter earnings today.


Tech-Mahindra1
Shares of Tech Mahindra were trading lower 0.17% at Rs.554.60 on BSE. The IT Company is scheduled to announce its September quarter earnings today.

Tech Mahindra is expected to deliver healthy cc dollar revenue growth of 3.5‐4% qoq, IIFL says. Q2 FY16 would be a much better quarter with abatement of the seasonal issues faced in the previous quarter.

The scrip opened at Rs. 560 and has touched a high and low of Rs. 562.85 and Rs. 549.1 respectively. So far 541053(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 53676.87 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 749.5 on 02-Feb-2015 and a 52 week low of Rs. 458.7 on 06-Jul-2015. Last one week high and low of the scrip stood at Rs. 557 and Rs. 533.6 respectively.

The promoters holding in the company stood at 36.65 % while Institutions and Non-Institutions held 49.08 % and 14.27 % respectively.

The stock is currently trading below its 200 DMA.

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