Tech Mahindra shares gain 3% on acquisition of Brazil-based firm
Tech Mahindra shares rose 3% to Rs 1402.20 against the previous close of Rs 1362.20. Market cap of the firm stood at Rs 1.37 lakh crore. Total 0.50 lakh shares of Tech Mahindra changed hands amounting to turnover of Rs 6.95 crore.
- Jul 2, 2026,
- Updated Jul 2, 2026 9:58 AM IST
Shares of Tech Mahindra rose 3% in early deals on Thursday after the IT firm said its arm Tech Mahindra Servicos De Informatica S.A has inked a Quota Purchase Agreement with Orange Business Services Brasil LTDA (Orange) for acquisition of Alyis Servicos Tecnicos LTDA, a Brazil-based firm.
ALSO READ: Sensex, Nifty open higher; Infosys, HCL Tech, TCS, Tech Mahindra lead gains
Tech Mahindra shares rose 3% to Rs 1402.20 against the previous close of Rs 1362.20. Market cap of the firm stood at Rs 1.37 lakh crore. Total 0.50 lakh shares of Tech Mahindra changed hands amounting to turnover of Rs 6.95 crore.
Tech Mahindra share are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages. The stock has lost 13 per cent since the beginning of this year and fallen 16 per cent during the last one year.
"Consequent to completion of the Transaction, Alyis Serviços Técnicos LTDA will become a wholly-owned subsidiary of Tech Mahindra Servicos De Informatica S.A and a wholly-owned stepdown subsidiary of the Company," said Tech Mahindra.
The IT major said acquisition is a part of the partnership signed between the Company and Orange Business which includes outsourcing of selected international operations including global customer support, quote to bill and post sale support.
Alyis Serviços Tecnicos LTDA has operations in Brazil supporting the LATAM region, and this acquisition will enable the Company to provide seamless support to Orange Business customers.
The cost of acquisition is (Equivalent to approximately Rs 2.21 crore at an exchange rate of Rs 18.42 per BRL).
Shares of Tech Mahindra rose 3% in early deals on Thursday after the IT firm said its arm Tech Mahindra Servicos De Informatica S.A has inked a Quota Purchase Agreement with Orange Business Services Brasil LTDA (Orange) for acquisition of Alyis Servicos Tecnicos LTDA, a Brazil-based firm.
ALSO READ: Sensex, Nifty open higher; Infosys, HCL Tech, TCS, Tech Mahindra lead gains
Tech Mahindra shares rose 3% to Rs 1402.20 against the previous close of Rs 1362.20. Market cap of the firm stood at Rs 1.37 lakh crore. Total 0.50 lakh shares of Tech Mahindra changed hands amounting to turnover of Rs 6.95 crore.
Tech Mahindra share are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages. The stock has lost 13 per cent since the beginning of this year and fallen 16 per cent during the last one year.
"Consequent to completion of the Transaction, Alyis Serviços Técnicos LTDA will become a wholly-owned subsidiary of Tech Mahindra Servicos De Informatica S.A and a wholly-owned stepdown subsidiary of the Company," said Tech Mahindra.
The IT major said acquisition is a part of the partnership signed between the Company and Orange Business which includes outsourcing of selected international operations including global customer support, quote to bill and post sale support.
Alyis Serviços Tecnicos LTDA has operations in Brazil supporting the LATAM region, and this acquisition will enable the Company to provide seamless support to Orange Business customers.
The cost of acquisition is (Equivalent to approximately Rs 2.21 crore at an exchange rate of Rs 18.42 per BRL).