Tech Mahindra rose 1.18% to Rs 2,494 at 10:11 IST on BSE after the company announced that it has signed an agreement with Bombardier Aerospace.
Tech Mahindra made the announcement after market hours on Thursday, 4 September 2014.
Meanwhile, the BSE Sensex was up 45.81 points, or 0.17%, to 27,131.74
On BSE, so far 13,800 shares were traded in the counter, compared with an average volume of 58,403 shares in the past one quarter.
The stock hit a record high of Rs 2,521.80 in intraday trade today, 5 September 2014. The stock hit a low of Rs 2,479.55 so far during the day. The stock hit a 52-week low of Rs 1,259.40 on 16 September 2013.
The stock had outperformed the market over the past one month till 3 September 2014, rising 14.63% compared with 6.51% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 28.18% as against Sensex's 9.18% rise.
The large-cap IT company has an equity capital of Rs 234.97 crore. Face value per share is Rs 10.
Tech Mahindra after market hours on Thursday, 4 September 2014 announced that it has signed an agreement with Bombardier Aerospace. As part of this engagement, Tech Mahindra will provide engineering solutions to Bombardier.
Tech Mahindra and Bombardier have signed a mutual agreement that will lead Tech Mahindra to work with Bombardier globally. Tech Mahindra plans to invest significantly in infrastructure and talent in the Montrl region. Tech Mahindra aims to grow its Canada team to 1,200 people in the next five years.
Kristopher Pinnow, Vice-President, Chief Procurement Officer of Bombardier Aerospace said "Our focus shall be on supporting more efficiently the existing platforms while developing newer products in a cost effective manner.
On a consolidated basis, Tech Mahindra's net profit rose 2.68% to Rs 630.72 crore on 4.81% growth in total income to Rs 5210.77 crore in Q1 June 2014 over Q4 March 2014.
Tech Mahindra offers information technology services and solutions. Tech Mahindra gains on report of strong growth outlook
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