Shares of IT services firm Tech Mahindra are in action after the company reported a 32.74 per cent jump in consolidated net profit. The stock has gained even as benchmark indices remained volatile. The counter opened with a gap up at Rs 1,714.95, up 4.02 per cent from the previous close of Rs 1,648.70 on the BSE. Amid firm buying, the stock gained further and touched the intraday high of Rs 1,777.25, representing a gain of Rs 128.55 or 7.79 per cent. Last seen, the stock traded at Rs 1761.70, up Rs 113 or 6.85 per cent. The market cap of the company stood at Rs 1,72,674.63 crore.
Strong quarterly results behind the rally
The stock’s move comes as the IT services firm reported a 32.74 per cent jump in consolidated net profit to Rs 1,585.6 crore for the July-September quarter of FY27, as strong volume growth, cost savings and rupee depreciation lifted operating profit.
The Pune-based company had posted a net profit (attributable to owners of the company) of Rs 1,194.5 crore in the year-ago period.
Tech Mahindra’s revenue from operations rose 15.6 per cent to Rs 16,180.2 crore during the quarter under review, up from Rs 13,994.9 crore in Q2 FY26.
First bonus in 11 years
The company’s board has recommended a 1:1 bonus issue, under which shareholders will get one bonus share for every share held, as the company marks its 40th anniversary.
According to a regulatory filing, the bonus shares are expected to be credited by December 15. This is Tech Mahindra’s first bonus issue in 11 years. The company last issued bonus shares at a 1:1 ratio in March 2015.
Tech Mahindra share price history
The stock has a 52-week high of Rs 1,850 and a 52-week low of Rs 1,304.25. The stock has been gaining for the last four days and has risen 20.06 per cent in the period. The counter outperformed the sector by 4.4 per cent today and is technically trading above the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
According to BSE Analytics, the stock has given returns of 321.56 per cent in 10 years and 49.31 per cent in three years. On a year-to-date (YTD) basis, the stock has gained 9.97 per cent, as against the fall of 12.36 per cent in the benchmark index.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)