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Tech Mahindra Ltd under continued selling pressure

Capital Market 

Tech Mahindra Ltd is quoting at Rs 674.5, down 0.86% on the day as on 13:24 IST on the NSE. The stock jumped 3.65% in last one year as compared to a 5.53% rally in NIFTY and a 6.91% spurt in the Nifty IT index.

Tech Mahindra Ltd dropped for a fifth straight session today. The stock is quoting at Rs 674.5, down 0.86% on the day as on 13:24 IST on the NSE. The benchmark NIFTY is down around 0.05% on the day, quoting at 11552.7. The Sensex is at 38686.77, down 0.09%.Tech Mahindra Ltd has lost around 12.2% in last one month.Meanwhile, Nifty IT index of which Tech Mahindra Ltd is a constituent, has eased around 7.07% in last one month and is currently quoting at 15376, down 1.11% on the day. The volume in the stock stood at 13.45 lakh shares today, compared to the daily average of 28.43 lakh shares in last one month.

The benchmark July futures contract for the stock is quoting at Rs 661.65, down 1.16% on the day. Tech Mahindra Ltd jumped 3.65% in last one year as compared to a 5.53% rally in NIFTY and a 6.91% spurt in the Nifty IT index.

The PE of the stock is 15.21 based on TTM earnings ending March 19.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 09 2019. 13:35 IST
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