Tech Mahindra: Enters into strategic partnership with Prometeia

Tech Mahindra gains on entering into a partnership with Prometeia, a leading European company. Prometeia is a leader in risk management consulting and software solutions. 

The strategic partnership between Tech Mahindra and Prometeia will provide Governance, Risk and Compliance services to banks in order to improve their overall performance, in line with the Basel III framework. Basel III is a set of international banking regulations developed to promote stability in the international financial system. 

With Tech Mahindra’s capabilities in banking risk management and compliance combined with Prometeia’s ability to provide local industry specialists will help in effectively responding to regulatory challenges impacting banks all over the world. 

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. 

On Friday, the shares of Tech Mahindra opened at Rs. 709 against Thursday’s close of Rs. 701.95. At 11:56 hours, the stock was trading at Rs. 713.50, 1.65 per cent higher than the previous close. Its intraday high was Rs. 715 and intraday low was Rs. 707 per share on the BSE. The 52-week high stood at Rs. 846 and 52-week low was at Rs. 612.50 per share on the BSE.