Tech Mahindra inches up on planning to acquire Beris Consulting through its German subsidiary
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Tech Mahindra is currently trading at Rs. 1379.45, up by 7.85 points or 0.57% from its previous closing of Rs. 1371.60 on the BSE.
The scrip opened at Rs. 1385.30 and has touched a high and low of Rs. 1389.80 and Rs. 1372.15 respectively. So far 23817 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1547.00 on 24-Sep-2021 and a 52 week low of Rs. 782.25 on 29-Oct-2020.
Last one week high and low of the scrip stood at Rs. 1522.00 and Rs. 1365.00 respectively. The current market cap of the company is Rs. 133936.95 crore.
The promoters holding in the company stood at 35.73%, while Institutions and Non-Institutions held 52.82% and 11.45% respectively.
Tech Mahindra is planning to acquire IT consultancy service provider Beris Consulting Gmbh for 7 million euro or about Rs 60 crore through its German subsidiary. The transaction is expected to close by October 8, 2021. The acquisition will help Tech Mahindra unlock the transformational growth in the IT and application space for the automotive industry as a result of EV, sharing and mobility. It will also enable the company to expand presence, local expertise and client relationships in the German market.
Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise.
