Tech Mahindra (TechM) shares gained on Monday after it has entered into an agreement to acquire 75% stake in Fix Stream Networks Inc., (FSNI), a technology startup company subject to necessary regulatory approvals, at a consideration of USD 10 million.
FSNI is going to develop emerging technology which will benefit Tech Mahindra's customer base.
Shares of the company are trading at Rs 1,786, up Rs 16.2, or 0.92% at the Bombay Stock Exchange (BSE) on Monday at 9:56 a.m.
The scrip has touched an intra-day high of Rs 1,790 and low of Rs 1,777. The total volume of shares traded at the BSE is 4,440.
In the earlier session, the shares climbed 1.13%, or Rs 19.85, at Rs 1,769.80.
Currently, the stock is trading down 7.76% from its 52-week high of Rs 1,936.35 and above 99.5% over the 52-week low of Rs 895.25.