At 1:20 pm, Tech Mahindra shares were trading higher by 8 per cent on the BSETech Mahindra shares skyrocketed almost 10 percent to touch a 52-week high in a subdued market after the company reported a dive in net earnings in the quarter ended June 2020.
On Thursday, Tech Mahindra reported a 42.91 per cent growth in net profit in the June quarter to Rs 1,365.7 crore on the back of greater incomes and a growth in revenue margins.
The net earnings in the year-ago period stood at Rs 955.6 crore.
Tech Mahindra shares touched a 52-week high of Rs 1,237 on the BSE and at 1:20 pm, the shares were trading at Rs 1,218.90, up Rs 91 or 8 percent, on the BSE.Tech Mahindra's total income in the quarter enhanced 7 per cent month-on-month to Rs 10,485 crore.The company's dollar earnings was up 4.1 percent at $1,383.6 million against $1,329.6 million and the constant currency income development stood at 3.9 per cent.The BSE Sensex was trading at 52,749.95, higher by 96.70 points or 0.18 percent and the NSE Nifty was at 15,818.16, up 40.70 points or 0.25 per cent.