Tech Mahindra shares end 4.5% higher,mcap rises by Rs 1,722 cr

Shares of IT firm Tech Mahindra today ended 4.5 per cent higher, adding Rs 1,722 crore to its market valuation, after the company reported 6.5 per cent rise in net profit for the June quarter.
The stock ended with a gain of 4.56 per cent at Rs 402.80 on BSE. During the day, it surged 7.43 per cent to Rs 413.90.
At NSE, shares of the company soared 4.3 per cent to close at Rs 402.45.
The company's market valuation also rose by Rs 1,722.02 crore to Rs 39,301.02 crore.
In terms of volume, 24.32 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

Tech Mahindra yesterday reported 6.5 per cent rise in net profit at Rs 798.6 crore for the quarter ended June 30.
This is against a net profit of Rs 749.3 crore in the year-ago period, Tech Mahindra said in a statement.
Revenues of the fifth largest software exporter grew 6 per cent to Rs 7,336.1 crore in the reported quarter as against Rs 6,920.9 crore in the corresponding quarter last year.