Tech Mahindra shares gained in early trade on Friday after the software firm entered into a strategic alliance with US-based MetricStream to deliver governance, risk and compliance (GRC) solutions across the globe.
At 10.25 am, Tech Mahindra share price was trading 1.82 per cent up at Rs 520.75. The share price opened at Rs 515.55 and has touched a high and low of Rs 521.20 and Rs 513.30, respectively, in trade so far. Later, the share price of the company closed 2.12 per cent up at Rs 522.30.
So far, around 0.38 lakh shares of Tech Mahindra exchanged hands on the BSE as compared with two-week average daily volume of 1.47 lakh shares.
The BSE group ‘A’ stock of face value Rs 5 has touched a 52 week high of Rs 749.50 on Feb 2, 2015 and a 52 week low of Rs 458.70 on July 6, 2015.
Last one week high and low of the scrip stood at Rs 525.90 and Rs 504.85 respectively. The current market cap of the company is Rs 49,744.00 crore.
The promoters holding in the company stood at 36.65 per cent while Institutions and Non-Institutions held 49.08 per cent and 14.27 per cent respectively.
MetricStream’s leading enterprise and cloud apps for GRC allow clients to strengthen risk management, regulatory compliance, vendor governance and quality management while driving business performance, Tech Mahindra said in a statement.
Tech Mahindra has been working with MetricStream products and solutions on integration and acceptance testing as well as defining, implementing and testing of end-to-end GRC processes, it said, adding the alliance of the two companies will help simplify governance, risk and compliance for modern, digital enterprises.