Tech Mahindra zooms over 3 per cent; outperforms the benchmark indices
On Tuesday, the benchmark indices have made a decent gap up opening and are cheering, with Sensex up by more than 800 points higher while Nifty is more than 240 points up. Amid the bullish environment prevailing in the markets on Tuesday, the stock of Tech Mahindra has outperformed the benchmark indices gaining up to 3.06 per cent.
On Monday, post the market hours the company announced that it has been working with Telefónica Germany to digitally transform its microwave network with open software-defined networking (SDN). Telefónica is working to standardize its management interface by collaborating with multiple vendors and partners. Tech Mahindra will assist Telefónica to achieve the said goal by bringing its domain expertise and continuous integration capabilities to the partnership. The company is also working with the telco to implement new standards for its DevOps model including enhancing its processes and requirements.
It also includes continuous management support of service operations for the organisation’s overall SDN Architectures. The project involves the deployment of microwave transmission automation focussing on elevating service delivery and network operations. All microwave devices in Telefónica Germany’s mobile backhaul network are accessible via a single harmonised Network API which supports an open microservice framework.
The technological requirements for the mobile network of the future are rising at a strong pace. Software-based approaches such as SDN will help Telefónica Germany minimize the complexity of its network architectures and to drive its network expansion faster with higher quality via a greater degree of automation. Telefónica Deutschland offers telecommunications services for private and business customers, as well as innovative digital products and services in the fields of the Internet of Things and data analytics. The company is one of the leading integrated telecommunications providers in Germany.
The stock of Tech Mahindra is trading at Rs 1,648.05 per share at 11.37 am, 3.13 per cent higher on BSE. On a YTD basis, the stock has reported a rise of 68.52 per cent whereas a rise of 55.05 per cent in the last 6 months.