Tech Mahindra share price closed higher today after the company said it was expanding its collaboration with telecommunication giant AT&T.
Tech Mahindra stock closed 3.77% or 26 points higher at Rs 721.55 compared to the previous close of Rs 695.35 in trade today. The IT firm share rose up to 5.56% intraday to Rs 734 on BSE. The large cap firm has gained after two days of consecutive fall.
Tech Mahindra share opened 2.11% higher at Rs 714. The stock of Pune-based firm has lost 6.62% during the last one year but gained 0.06% since the beginning of this year.
"The firm announced expansion of its strategic collaboration with AT&T to accelerate AT&T's IT network application, shared systems modernization and movement to the cloud. Tech Mahindra will assume management of many of the applications which support AT&T's network and shared systems. The multi-year agreement will enable AT&T to focus on core objectives, including having the most advanced software defined 56 network, and migrate the majority of its non-network workloads to the public cloud by 2024," the IT firm said.
Edited by Aseem Thapliyal