Tech Mahindra gains on buyback plan

Tech Mahindra rose 1.57% to Rs 813.25 at 09:25 IST on BSE after the company scheduled a board meeting on 21 February 2019 to consider a proposal to buy-back equity shares of the company.

The announcement was made on Saturday, 16 February 2019.

Meanwhile, the S&P BSE Sensex was down 125.91 points, or 0.35% to 35,683.04

On the BSE, 40,000 shares were traded in the counter so far compared with average daily volumes of 1.98 lakh shares in the past two weeks. The stock had hit a high of Rs 822.50 and a low of Rs 810 so far during the day.

 

Tech Mahindra's consolidated profit after tax rose 13% to Rs 1203 crore on 3.6% rise in revenue to Rs 8944 crore in Q3 December 2018 over Q2 September 2018.

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

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