Tech Mahindra has rallied 5% to Rs 922 on reports that more than 7% of total equity of the company has changed hands via bulk deals.
According to Bloomberg reports around 9.32 million shares representing 7.3% of equity have change hands on the National Stock Exchange.
BT Group Plc, Britain’s biggest fixed-line phone company, which held 23.23% stake in Tech Mahindra as on September 30, 2012, is selling its holding in the company through a sale of shares to institutional investors to raise at least Rs 990 crore, the report suggests.
The stock had opened at Rs 877 and hit a high of Rs 931.55 on the NSE in opening deals.
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