Dec 12, 2012, 02.13 PM IST | Source: Reuters

Tech Mahindra gains on share block sale price

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.

Tech Mahindra gains on share block sale price

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 April 17, 2014, Tech Mahindra closed at Rs 1769.80, up Rs 19.85, or 1.13 percent. The 52-week high of the share was Rs 1936.35 and the 52-week low was Rs 895.25.


The company's trailing 12-month (TTM) EPS was at Rs 98.43 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 17.98. The latest book value of the company is Rs 183.66 per share. At current value, the price-to-book value of the company is 9.64.

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