Tech Mahindra rose as much as 4.9 percent on Wednesday after a block sale of 9.3 million shares, widely seen as coming from BT , fetched a higher-than-expected price.
BT was set to sell its 9.1 percent stake in the Indian IT services provider on Wednesday at a floor price of 855 rupees, according to a term sheet seen by Reuters.
The National Stock Exchange reported on Wednesday a block sale at 871 rupees per share. The exchange did not name the seller, but traders widely attributed it to BT.
Tech Mahindra shares were up 4.3 percent as of 9:28 a.m.
Tech Mahindra stock price
On September 02, 2014, at 10:21 hrs Tech Mahindra was quoting at Rs 2377.00, up Rs 5.55, or 0.23 percent. The 52-week high of the share was Rs 2385.00 and the 52-week low was Rs 1259.40.
The company's trailing 12-month (TTM) EPS was at Rs 111.23 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 21.37. The latest book value of the company is Rs 365.58 per share. At current value, the price-to-book value of the company is 6.50.
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