Tech Mahindra rose 2.93% to Rs 559.85 at 14:00 IST on BSE after the company said it partnered with Israel-based privacy research and development firm to develop global software privacy ecosystem.
Tech Mahindra issued the press release on its website yesterday, 15 January 2018.Meanwhile, the S&P BSE Sensex was down 30.80 points, or 0.09% to 34,812.71.
On the BSE, 2.48 lakh shares were traded in the counter so far, compared with average daily volumes of 1.55 lakh shares in the past two weeks. The stock had hit a high of Rs 562.50 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 548.10 so far during the day. The stock hit a 52-week low of Rs 357.60 on 29 May 2017.
Tech Mahindra said it partnered with ContextSpace Solutions, a privacy research and development firm based in Israel, to develop the world's first global software privacy ecosystem, MyData Shield. Providing a comprehensive approach to data protection thereby delivering privacy by design and by default, the cloud-based "software privacy ecosystem" enables corporate software developers and start-ups to meet tough, global privacy and data protection regulations. By 2020, over one-third of all data will live in or pass through the cloud, with data production in 2020 being estimated at 44 times greater than it was in 2009.
Tech Mahindra has developed MyData Shield, a cloud-based privacy protection as a service that will enable software developers to easily address security and personal data protection concerns. Established on a person-centric model, the service enables millions of organisations pan-industry to lawfully collect and process personal data for a common consumer base.
ContextSpace Solutions is an independent research and development (R&D) centre based in Tel Aviv, Israel, with the mission of creating state-of-the-art operational solutions for privacy in an increasingly demanding and legally-regulated digital world.
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On a consolidated basis, Tech Mahindra's net profit rose 6% to Rs 839.26 crore on 3.68% increase in net sales to Rs 7606.38 crore in Q2 September 2017 over Q1 June 2017.
Tech Mahindra offers innovative and customer-centric information technology experiences.
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