Tech Mahindra Partnership Updates | Share Price Movement

Tech Mahindra has entered into a partnership with Anyverse, a hyperspectral synthetic data generation platform that accelerates the development of computer vision-based solutions for autonomous applications. The partnership will focus on accelerating AI adoption in the automotive industry by simplifying the use of synthetic data to train, test, and validate AI systems.

As part of the partnership, Tech Mahindra will use Anyverse’s platform to provide synthetic data sets to train, validate, and fine-tune its global automotive customers’ AI systems. The partnership will focus on advanced driver assistance systems (ADAS), in-cabin systems, and autonomous vehicle (AV) applications. This will help accelerate AI adoption and software validation timelines by 30-40%. Anyverse will provide its standalone hyperspectral synthetic data platform, enabling Tech Mahindra to generate synthetic data with accurate sensor simulation.

Tech Mahindra Ltd provides a comprehensive variety of IT services to a diverse base of corporate customers across a wide range of industries, including IT-enabled services, application development and maintenance, consulting, and enterprise business solutions, among others. Infrastructure and cloud services, engineering services, application services, data analytics, network services, testing services, performance engineering, security and risk management services, business process services, product engineering, consulting, and other services are available from the company.

On Thursday, the shares of Tech Mahindra closed at Rs 1232.50, up by 0.43% from its previous closing of Rs 1227.25 on the BSE.

Today, the stock opened at Rs 1220.15 and has touched a high and low of Rs 1234.35 and Rs 1214.70 respectively.

The BSE group ‘A’ stock of face value Rs 5 has touched a 52 week high and low of Rs 1270.35 and Rs 982.95, respecively.

Last one week high and low of the scrip stood at Rs 1250.05 and Rs 1203.30 respectively. The current market cap of the company is Rs 1,20,151.80 crore.

The promoters holding in the company stood at 35.16%, while Institutions and Non-Institutions held 52.72% and 12.13% respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.

Tech Mahindra bolsters TPG partnership and expands customer experience with OCSI acquisition

Tech Mahindra has acquired Orchid Cybertech Services Inc. for AUD 5 million, enhancing its partnership with TPG Telecom.

About Acquisition

Tech Mahindra, a leading IT services and consulting company, has announced the acquisition of Orchid Cybertech Services Inc. (OCSI) for AUD 5 million in cash. This move aims to further strengthen their existing relationship with TPG Telecom and expand their customer experience capabilities in the Philippines.

OCSI, established in 2004, provides customer experience services to TPG Telecom and boasts a workforce of approximately 2,950 full-time employees. The acquisition, expected to be completed by February 20, 2024, will see OCSI’s assets and employees become part of Tech Mahindra, allowing them to offer broader customer support and services to TPG.

This acquisition is not a related party transaction, and Tech Mahindra emphasizes its commitment to “arm’s length” dealings. The purchase price of AUD 5 million represents a full acquisition of OCSI’s shareholding.

The move aligns with Tech Mahindra’s strategic focus on expanding its presence in the Philippines and strengthening its customer experience offerings. OCSI’s established track record and experienced workforce will complement Tech Mahindra’s existing capabilities, enabling them to provide enhanced services to TPG Telecom and potentially generate incremental revenue.

This acquisition signifies Tech Mahindra’s continued commitment to strategic partnerships and growth in the customer experience space. By integrating OCSI’s expertise and resources, they aim to offer comprehensive solutions and solidify their position as a leading provider of customer experience services in the region.

Share Price Movement

Tech Mahindra’s stock (TECHM) currently trading at Rs 1,305.10, experiencing a slight decline of 0.31% or Rs 4.10 from its previous closing price. Despite this dip, the stock is still trading close to its 52-week high of Rs 1,416.00, reflecting investor confidence in the company.

The trading session saw the stock reach a high of Rs 1317.85, but couldn’t hold onto the gains. The current market capitalisation of Tech Mahindra stands at Rs 1,27,429.67 crore. It’s important to note that the stock trades within a defined price band of Rs 1,178.30 - Rs 1,440.10, providing a wider range for intraday fluctuations.

About Company

Tech Mahindra, part of the Mahindra Group, is a global provider of digital transformation, consulting, and business re-engineering services. Its core operation is centred around the ‘Connected World. Connected Experiences’ concept, focuses on integrating technology with businesses to deliver tangible business value.

The company’s Makers Lab uses next-generation technologies like AI, ML, and VR to develop future-ready solutions. Tech Mahindra offers services in telecom IT, networking, consulting, application outsourcing, engineering, BPO, platform solutions, and mobile value-added products.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.