Tech Mahindra shares gained on Thursday after it has signed a joint venture (JV) agreement with Midad Holding, which is a subsidiary of AI Fozan, a pre-eminent group with diversified business interests in Saudi Arabia.

The JV will be called Tech Mahindra Arabia. Tech Mahindra will have 51% ownership while Midad will own 49% stake.

Shares of the company are trading at Rs 2,145, up Rs 41.05, or 1.95% at the Bombay Stock Exchange (BSE) on Thursday at 9:42 a.m.

The scrip has touched an intra-day high of Rs 2,180 and low of Rs 2,105.15. The total volume of shares traded at the BSE is 942.