Tech Mahindra surges on getting approval to acquire one hundred% shareholding in K-Vision

Tech Mahindra surges on getting approval to acquire one hundred% shareholding in K-Vision

by admin- Friday, March 15th, 2019 05:10:32 PM

Tech Mahindra is currently trading at Rs. 793.25, up through four.Seventy five points or zero.60% from its previous closing of Rs. 788.50 at the BSE.

The scrip opened at Rs. 788.95 and has touched a high and coffee of Rs. 799.75 and Rs. 788.Ninety five respectively. So some distance 9285 shares were traded on the counter.

The BSE institution ‘A’ stock of face cost Rs. 5 has touched a 52 week high of Rs. 840.10 on 21-Feb-2019 and a 52 week low of Rs. 603.00 on 20-Mar-2018.

Last one week excessive and low of the scrip stood at Rs. 815.Ninety five and Rs. 775.65 respectively. The contemporary market cap of the organization is Rs. 77538.13 crore.

The promoters holding in the corporation stood at 35.Ninety four%, whilst Institutions and Non-Institutions held 51.Forty nine% and 12.58% respectively.

Tech Mahindra has obtained approval to accumulate a hundred% shareholding in K-Vision a Japanese employer via its thoroughly owned Subsidiary — Mahindra Engineering Services (Europe). The value of acquisition is $1.Five million.

The objective of acquisition is intends to leverage the neighborhood presence and understanding of K-Vision to build its network services enterprise in Japan inside the close to term. The company will assist the 4G and 5G network – build and roll-out in Japan for huge telecom gamers.

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