Tech Mahindra Shares: Shares of IT sector giant Tech Mahindra became a rocket today even in weak market sentiment. Today only the IT index of Nifty is green and all the stocks of Nifty IT are also green. Talking about Tech Mahindra, it jumped more than 4 percent, which is the fastest jump for it in 21 weeks. Some investors took advantage of this rally due to which the prices softened but it is still in a very strong position. Today on BSE it closed at Rs 1703.00 with a rise of 3.63 percent. In intra-day it jumped 4.27 percent to reach Rs 1713.45.
Quarterly Tech Mahindra results will come on January 17
TCS presented its December quarter results on January 9 in which its profit was higher than expected and the company also announced a huge dividend. This also improved the environment for other IT companies. Tech Mahindra’s December quarter trading results will come after the close of equity market trading on January 17. Talking about the September quarter, its consolidated net profit jumped 153.1 percent year-on-year to Rs 1,250 crore. During this period, revenue also increased by 3.5 percent to Rs 13,313 crore. On a quarterly basis, its profit had increased by 46.81 percent and revenue by 2.36 percent in the September quarter.
How were the shares in one year?
Tech Mahindra shares have made great earnings for investors. Last year on April 19, 2024, it was at Rs 1163.70, which is a one-year low for its shares. From this low level, it jumped by more than 55 percent in 8 months to reach a price of Rs 1807.40 on December 12, 2024, which is a record high for its shares. However, the rise in shares stopped here and at present it is about 6 percent downside from this high.
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