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    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.

    December 12, 2012 / 14:13 IST

    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.

    first published: Dec 12, 2012 09:36 am

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