Tech Mahindra rises on planning to acquire 100% stake in Thirdware Solutions
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Tech Mahindra is currently trading at Rs. 1501.10, up by 14.15 points or 0.95% from its previous closing of Rs. 1486.95 on the BSE.
The scrip opened at Rs. 1486.80 and has touched a high and low of Rs. 1508.60 and Rs. 1485.85 respectively. So far 33665 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1837.75 on 30-Dec-2021 and a 52 week low of Rs. 936.85 on 26-Apr-2021.
Last one week high and low of the scrip stood at Rs. 1527.85 and Rs. 1411.20 respectively. The current market cap of the company is Rs. 145896.24 crore.
The promoters holding in the company stood at 35.67%, while Institutions and Non-Institutions held 52.75% and 11.59% respectively.
Tech Mahindra has approved the proposal to acquire 100% equity shares in Thirdware Solutions (hereinafter referred to as Thirdware or Target). The acquisition will bolster Tech Mahindra's digital solutions and services in automotive consulting, design, development, and implementation in areas like ERP (Enterprise Resource Planning), EPM (Enterprise Performance Management), RPA (Robotic Process Automation), and IIoT (Industrial Internet of Things). Thirdware's capability to provide end-to-end implementations and global rollouts of ERP solutions will give Tech Mahindra an edge in the manufacturing space.
Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise.
