Tech Mahindra stock up 3% on partnership with Israeli firm

NEW DELHI: Shares of Tech Mahindra today surged more than 3 per cent to its 52-week high in morning trade after the IT major said it has partnered with Israel's ContextSpace for cybersecurity.

Shares of the company opened on a bullish note at Rs 548.10 then surged over 3 per cent to touch a high of Rs 562.50 on the BSE, eventually closing at Rs 557.80, up 2.56 per cent.

On the NSE the stock opened at Rs 548, then jumped over 3 per cent to a high of Rs 563 and closed at Rs 556.95, up 2.43 per cent.


Tech Mahindra yesterday announced its partnership with Israeli firm ContextSpace Solutions to develop the world's first global software privacy ecosystem, MyData Shield.

Besides, it has also launched 'Tech Mahindra NxT' to power start-ups in Israel, under which it will engage with 20 firms.

Tel Aviv, Israel's financial and technological hub, will be the nerve centre for the programme and will focus on creating collaborative solutions across cyber security, fintech, mobility, artificial intelligence and data analytics.

Besides, the initiative will also mentor and help accelerate growth for start-ups by availing ready infrastructure and market know-how.