Finance Update

Tech Mahindra gains on approval to acquire 18% in 2 cos

Last Updated : Apr 09, 2019 02:00 PM IST | Source: Moneycontrol.com






The said acquisition will get completed by April 9, 2019 for a cash consideration of Rs 13 crore.













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Shares of Tech Mahindra gained more than 1 percent intraday Tuesday as company board approved the proposal to acquire stake in 2 companies.

As per the company press release on BSE the investment committee of the board of directors of the company has approved the proposal to acquire 18.1 percent equity shares each of lnfotek Software & Systems and Vitaran Electronics.

lnfotek Software & Systems and Vitaran Electronics are belongs to logistics and asset tracking industry.

The said acquisition will get completed by April 9, 2019 for a cash consideration of Rs 13 crore.

At 13:50 hrs Tech Mahindra was quoting at Rs 793.65, up Rs 6.55, or 0.83 percent on the BSE.



First Published on Apr 9, 2019 02:00 pm















































Source

Prakash Poojary
Business Analyst

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