Tech Mahindra sell 100% stake in LCC Pakistan

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Tech Mahindra announced that its step down subsidiary LCC Middle East FZ LLC has agreed to sell its 100% shareholding in LCC Pakistan Pvt Ltd to Talkpool AG, Switzerland, on Wednesday.

The expected date of completion is by 31 October 2017, with a total consideration of USD 5.2 million.

The Switzerland-based entity, Talkpool AG delivers a range of network design, engineering, implementation and managed services designs.

Shares of Tech Mahindra on the NSE was trading at Rs 394 per share higher by Rs 0.8 per share or 0.22%. It has delivered negative returns of 26% in a period of one year and has underperformed the BSE Sensex and BSE IT indices over the same time span.

Stock view :-

Tech Mahindra Ltd is currently trading at Rs 395.2, up by Rs 0.75 or 0.19% from its previous closing of Rs 394.45 on the BSE.

The scrip opened at Rs 395 and has touched a high and low of Rs 396.5 and Rs 391 respectively. So far 287702(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 38445.34 crore.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 548.85 on 20-Jun-2016 and a 52 week low of Rs 357.6 on 29-May-2017. Last one week high and low of the scrip stood at Rs 400 and Rs 387 respectively.

The promoters holding in the company stood at 36.21 % while Institutions and Non-Institutions held 50.04 % and 13.7 % respectively.

The stock is currently trading below its 200 DMA.


Tech Mahindra Ltd :-
BSE 395.20 0.75    (0.19%)
NSE 395.20 0.85    (0.22%)


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