Tech Mahindra clicks on robust Q2 numbers

DALAL STREET SPIKES

Tech Mahindra jumped 8.62 per cent during the day after reporting a good set of numbers on Tuesday evening. However, the stock gave up a large part of the gains on account of weak market conditions. The stock ended the day 1.3 per cent higher at Rs 418.45.

The company’s rupee revenue rose by 30 per cent year-on-year (y-o-y) to Rs 1,164.80 crore, while its net profit swelled by 66.7 per cent y-o-y to Rs 302.80 crore in the second quarter of FY09. The stock hit an intraday high of Rs 448.70 and a low of Rs 400, with trading volumes of 110,099 shares.