Tech Mah, Satyam surge on Cisco tie-up

Shares of Tech Mahindra and Satyam Computer Services on Tuesday accelerated by up to 10 per cent on BSE buoyed by the tie-up between Mahindra Group and Cisco Systems which will help in providing services, including cloud computing.

Heavy buying lifted the shares of Tech Mahindra, which jumped by 9.26 per cent to settle at Rs 739.35 on the Bombay Stock Exchange (BSE). In intra-day session, the stock rose to its highest level in a month at Rs 741.85.

Similarly, Satyam Computer also rose by 3.76 per cent to close at Rs 64.90 on the BSE.

Mahindra Group and Cisco has signed a Memorandum of Understanding (MOU). Under the MoU, Cisco and Mahindra will explore opportunities to collaborate on comprehensive differentiated offerings in the sports and entertainment market to provide a range of industry-specific offerings.

Meanwhile, the BSE benchmark Sensex settled the day at 18,439.65, up by 216.98 points.