Tech Mahindra dips 3 pc on BSE on weak Q2 results
IT Firm Tech Mahindra today fell by nearly three per cent on the Bombay Stock Exchange, after the company reported a decline in its profit for the second quarter.business Updated: Oct 27, 2010 12:48 IST
IT Firm Tech Mahindra today fell by nearly three per cent on the Bombay Stock Exchange, after the company reported a decline in its profit for the second quarter.
Shares of Tech Mahindra dipped 2.73 per cent on the BSE to Rs 764.10 during the early trading hours.
Yesterday, the company had posted a fall of 10.83 per cent in its profit at Rs 150.67 crore, on account of a charge of Rs 36.70 crore it incurred due to its shareholding in Mahindra Satyam.
Tech Mahindra in April 2009 had acquired scam-hit Satyam Computer and rebranded it as 'Mahindra Satyam'.
On National Stock Exchange, too, the scrip witnessed a similar downtrend and slid by 1.57 per cent to Rs 774.
On the volume front, over 1.96 lakh shares of the company changed hands during the morning session.
Meanwhile, the broader gauge Sensex was trading at 20,197.49, down 23.90 points from the previous close.