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18-Apr2019

Tech Mahindra shines on entering into strategic collaboration with i2Chain

Tech Mahindra is currently trading at Rs. 806.85, up by 9.75 points or 1.22% from its previous closing of Rs. 797.10 on the BSE.

The scrip opened at Rs. 797.20 and has touched a high and low of Rs. 808.00 and Rs. 797.20 respectively. So far 59350 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 840.10 on 21-Feb-2019 and a 52 week low of Rs. 612.50 on 26-Jul-2018.

Last one week high and low of the scrip stood at Rs. 808.00 and Rs. 775.00 respectively. The current market cap of the company is Rs. 77672.07 crore.

The promoters holding in the company stood at 35.94%, while Institutions and Non-Institutions held 51.49% and 12.58% respectively.

Tech Mahindra has entered into a strategic collaboration with i2Chain Inc., a San Francisco-based startup, leveraging next gen technologies to secure customer information and data assets.

Through this partnership, Tech Mahindra and i2Chain will offer a blockchain-based cybersecurity application to customers that is easy to use and provides information owners with an unprecedented level of control as to how, when and where other users can access their information, with the potential to substantially reduce the frequency and costs of security incidents. It enables enterprises and users to secure, share and transact with integrity and confidence, and is fully GDPR (General Data Protection Regulation) compliant. The application also makes chained information and identity tamperproof, and records all actions taken against a file in an immutable blockchain, fully accessible to support audits and forensics.

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.


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