Tech Mahindra hits 52-week high

The stock hit a 52-week high of Rs 517 on the BSE in intra-day trade, rallied 33% in past five months against 3% rise in S&P BSE Sensex.

Tech Mahindra hit a 52-week high of Rs 517 on the BSE in intra-day trade in an otherwise weak market. In past seven trading sessions, the stock of IT consulting & software firm outperformed the market by gaining 11% from Rs 466 on December 5, after Tech Mahindra announced to hold analyst meet on December 8 to make presentations on the Company’s strategy and provide business updates. On comparison, the S&P BSE Sensex was up 0.42% during the same period.

At its analyst meet, Tech Mahindra reiterated that it is focused to drive stronger growth in the Enterprise segment