Tech Mahindra sizzles after multi-year agreement with AT&T

Tech Mahindra rose 3.93% to Rs 722.65 after the company announced multi-year agreement to accelerate AT&T's technology transformation.

Tech Mahindra announced expansion of its strategic collaboration with AT&T to accelerate AT&T's IT network application, shared systems modernization and movement to the cloud. Tech Mahindra will assume management of many of the applications which support AT&T's network and shared systems.

The multi-year agreement will enable AT&T to focus on core objectives, including having the most advanced software defined 5G network, and migrate the majority of its non-network workloads to the public cloud by 2024. This comprehensive program will help drive sustainable operational improvement across the network and software development domains.

Together, AT&T and Tech Mahindra aim to improve the agility in rolling out and supporting networks of the future, while improving returns on investment through technology-led transformation. AT&T and Tech Mahindra will integrate several world class technologies and platforms in areas like artificial intelligence, DevOps, data analytics and 5G. The announcement was made after trading hours yesterday, 5 September 2019.

On BSE, 1.82 lakh shares were traded in Tech Mahindra counter, compared to a 2-week average of 80,000 shares. The stock hit an intraday high of Rs 734 and an intraday low of Rs 714.

It hit a 52-week high of Rs 846 on 2 May 2019 and a 52-week low of Rs 607.90 on 31 July 2019.

Tech Mahindra is a leading provider of digital transformation, consulting and business re-engineering services and solutions.

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