Tech Mahindra jumps over 7% to ₹1,770, tops Nifty 50
Business
Tech Mahindra's stock shot up more than 7% on Friday, making it the biggest gainer on the Nifty 50.
The share price hit ₹1,770, putting it 9.8% higher for the year while the overall index is down about 11.5%.
Tech Mahindra ₹1,586cr profit, $1.023bn deals
The surge comes after Tech Mahindra posted solid September quarter results: net profit jumped 8.2% to ₹1,586 crore and revenue rose by 2%.
They also landed $1.023 billion in new contracts and made progress with AI solutions.
Brokerages like HSBC are keeping a "Buy" rating, and with an interim dividend plus a bonus share issue announced, investors are feeling pretty upbeat about what's next.