Views on Tech Mahindra inks strategic pact with PNMsoft: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - IT, Angel Broking)

Tech Mahindra inks strategic pact with PNMsoft:

"PNMsoft a global provider of Intelligent BPM Software (iBPMS) solutions has collaborated with Tech Mahindra, a specialist in digital transformation, consulting and business re-engineering to benefit from synergies in key vertical markets. Tech Mahindra's strong experience and capabilities in SharePoint and Microsoft technologies along with PNMsoft's products will enable the alliance to extend solutions to its clients in the BPM space. The company is likely to employ more than 500 highly skilled, qualified and experience resources. Thus the order is a decent win for the company and should deliver around revenues of US$20-30mn. In recent past, the company has witnessed a strong correction on back of the pre warning on the Telecom domain to impact it's near term performance, making it attractive for long term investors. We maintain our BUY on the stock with a price target of INR 646.

Shares of TECH MAHINDRA LTD. was last trading in BSE at Rs.473.65 as compared to the previous close of Rs. 474.35. The total number of shares traded during the day was 180569 in over 4285 trades.

The stock hit an intraday high of Rs. 477.45 and intraday low of 469.15. The net turnover during the day was Rs. 85356149.

Source : Equity Bulls

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