Tech Mahindra surges over 5% after securing multi-year deal with AT&T

With this deal, TechM will assume management of many of the applications which support AT&T's network and shared systems.

Shares of Tech Mahindra (TechM) gained over 5 per cent to Rs 732 apiece on the BSE in the early morning deals on Friday, a day after the company announced a strategic and possibly largest-ever deal with leading American network operator AT&T.

At 09:35 am, the stock was trading 4.22 per cent higher at Rs 724.70 apiece on the BSE. In comparison, the benchmark S&P BSE Sensex was quoting 197 points or 0.54 per cent higher at 36,841 levels.

This deal will accelerate AT&T’s information technology (IT) network application, shared systems modernisation, and movement to the cloud. TechM will assume