Mindteck (India), a global technology company, witnessed a sharp rise in share price after the company inked pact with Alafdaliyah Group to provide IT services.

The company has signed a memorandum of understanding (MoU) with the Alafdaliyah Group to provide IT products and services, skilled IT resources and offshore services from its two development centers in India.

Yusuf Lanewala, Mindteck Chairman and Managing Director said, "We are very pleased about this MoU. Over the last twelve years, we have established good relationships with some large governments, and private sectors in the GCC. This new alliance will undoubtedly further our reach."

Shares of Mindteck (India) are trading at Rs 163.90, up Rs 5.9, or 3.73% at the Bombay Stock Exchange (BSE) on Monday at 1:21 p.m.

The scrip has touched an intra-day high of Rs 164.30 and low of Rs 155.90. The total volume of shares traded at the BSE is 76,634.