Shares of Tech Mahindra today defied the broader market trend and settled for the day with gains of more than 2 per cent after the IT major said it has partnered with Israel's ContextSpace for cybersecurity.
During the day, the shares of the company surged to an intra-day high of Rs 562.50, up 3.41 per cent from the previous closing price. The stock, however, pared some gains and closed at Rs 557.80, up 2.56 per cent on BSE.
On the NSE, the stock opened at Rs 548, touched a high of Rs 563 and finally ended the day at Rs 556.95, up 2.43 per cent.
Tech Mahindra yesterday announced its partnership with Israeli firm ContextSpace Solutions to develop the world's first global software privacy ecosystem, MyData Shield.
Besides, it has launched 'Tech Mahindra NxT' to power start-ups in Israel, under which it will engage with 20 firms.
Tel Aviv, Israel's financial and technological hub, will be the nerve centre for the programme and will focus on creating collaborative solutions across cyber security, fintech, mobility, artificial intelligence and data analytics.
Besides, the initiative will mentor and help accelerate growth for start-ups by availing ready infrastructure and market know-how.
Disclaimer: No Business Standard Journalist was involved in creation of this content
