Tech Mahindra to implement IT infrastructure for Telefonica Germany/O2; stock trades positively

Tech Mahindra announced on Monday after the market hours that it has entered into a strategic partnership with Telefonica Germany/O2, a leading telecommunications provider from Germany, to drive its end-to-end IT transformation. 

As per the terms of the agreement, Tech Mahindra will support Telefonica Germany/O2 to deliver faster product launches and provide a more human-centered experience to its customers in the mass market segment. 

The company’s stock today increased by 2.05 per cent and made an intraday high of Rs 999.15 per share at 9.38 am. 

Besides, the company reported a net profit of Rs 1,289.10 crore in Q3FY21, an increase of 16.16 per cent. It had reported a profit of Rs 1,110.20 crore in Q3FY20. The company reported net sales of Rs 9,647.10 crore for Q3FY21, a decrease of 0.08 per cent as against the net sales of Rs 9,654.60 crore for Q3FY20. 

According to BSE data, the stock traded at a P/E multiple of 21.22 and a price-to-book ratio of 3.97. The stock has a 52-week high and a 52-week low of Rs 1,081.35 and Rs 470.25, respectively. 

At 3.03 pm on Tuesday, the stock of Tech Mahindra Ltd was trading at Rs 986.50, up by 0.76 per cent on BSE.