Tech Mahindra hits three-month low

Shares of Tech Mahindra were trading lower by 3% at Rs 625, its lowest level since December 29, 2014, on the National Stock Exchange (NSE) in otherwise firm market.

The stock of information technology (IT) consulting and software firm have underperformed the market by falling 10% after it turned ex-stock split and ex-bonus on March 19, 2015. The CNX Nifty was down 3.2%, while CNX IT index fell 2.2% during the same period.

The stock dipped 17% from its record high of Rs 749 (adjusted to stock split and bonus) touched in February this year.

Today, the stock opened at Rs 648 and touched high of Rs 653 on the NSE. A combined 1.89 million shares changed hands on the counter till noon deal on the NSE and BSE.

 


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