Tech Mahindra shares jump 7% after Q2 results and Jefferies upgrade
In short
Tech Mahindra shares rose sharply on Friday. At 10.32 am, the stock was 7% higher at 1,764.40 on the NSE and had touched 1,776.50 after closing at 1,650 earlier.
The move followed the company’s Q2 results and a Jefferies upgrade. The report did not give the results or explain what in them pleased investors.
What the reporting says
Tech Mahindra shares traded 7% higher at 1,764.40 on the NSE at 10.32 am on Friday, after rising to 1,776.50 from a previous close of 1,650. The publisher summary tied the move to Q2 results and a Jefferies upgrade, though no details of the results or rating change were provided. The immediate question is whether the gains can hold beyond the morning session.
Why it matters
On Friday morning, Tech Mahindra shares traded 7% higher at 1,764.40 on the NSE at 10.32 am, after touching 1,776.50 from a previous close of 1,650. The publisher summary said the move came after Q2 results and a Jefferies upgrade. The available reporting does not state the contents of the results or the rating action, so the precise driver is not fully known.