Shares of Tech Mahindra and Mahindra Satyam are trading higher by over 2% each, extending their past three days gain, ahead of merger.
Mahindra Satyam has rallied 3.4% to Rs 120, while Tech Mahindra is up 2.4% at Rs 1,034 on the Bombay Stock Exchange.
The board of directors of Tech Mahindra at its meeting held on yesterday has fixed July 05, as the record date for determining the shareholders of Satyam Computer Services ('Mahindra Satyam') who would be entitled to receive shares of the company under the approved scheme.
The swap ratio for the merger had been fixed last year at 8.5 shares of Mahindra Satyam for every one share of Tech Mahindra.
After the merger, around 54% of the company's revenues will come from the telecom vertical as Tech Mahindra is focused mainly on this one. The company will now be divided into three units - Telecom, Enterprise and BPO.
Analyst at Angel Broking is remains positive on Tech Mahindra with a target price of Rs 1,170.
Mahindra Satyam has rallied 3.4% to Rs 120, while Tech Mahindra is up 2.4% at Rs 1,034 on the Bombay Stock Exchange.
The board of directors of Tech Mahindra at its meeting held on yesterday has fixed July 05, as the record date for determining the shareholders of Satyam Computer Services ('Mahindra Satyam') who would be entitled to receive shares of the company under the approved scheme.
The swap ratio for the merger had been fixed last year at 8.5 shares of Mahindra Satyam for every one share of Tech Mahindra.
After the merger, around 54% of the company's revenues will come from the telecom vertical as Tech Mahindra is focused mainly on this one. The company will now be divided into three units - Telecom, Enterprise and BPO.
Analyst at Angel Broking is remains positive on Tech Mahindra with a target price of Rs 1,170.
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