Tech Mahindra nosedives nearly 17% on disappointing Q4

Posted By: Religare
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Shares of Tech Mahindra plunged nearly 17 per cent, hitting 52-week low, on the Bombay stock Exchange after the IT services firm reported a drop of 30.2 per cent in its consolidated net profit after tax at Rs 589.69 crore sequentially for the March quarter of FY17, as compared to Rs 844.86 crore in December quarter.

    Tech Mahindra nosedives nearly 17% on disappointing Q4
    Tech Mahindra: Quotes, News
    BSE 641.95BSE Quote4.25 (-0.66%)
    NSE 642.20NSE Quote4.1 (-0.64%)

    Weighed down by Q4, shares of the company declined as much as 16.71 per cent to hit 52-week low of Rs 357.60 apiece on the Bombay Stock Exchange. The scrip was currently trading at Rs 384.75 against previous close price of Rs 429.35.

    In a similar fashion, stocks of firm were trading 10.32 per cent lower at Rs 384.85 apiece on the National Stock Exchange.

    Meanwhile, the broader benchmark BSE Sensex was trading at 31,060.97, up 32.76 points or 0.11 per cent, at 11:35 hours.

    Dion Global Solutions

    Read more about: tech mahindra bse nse stock market
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more