Tech Mahindra extends gains post June quarter results; stock hits new high

Shares of Tech Mahindra continued their upward movement on Tuesday, with the stock of the information technology (IT) consulting & software company hitting a new high of Rs 1,322.40, up 2.7 per cent on the BSE. The stock was quoting higher for the fourth straight trading day.

In the past one month, Tech Mahindra has outperformed the market by surging 25 per cent, as compared to a 4.4 per cent rise in the S&P BSE Sensex. In comparison, its peers, Tata Consultancy Services (up 3.5 per cent), Infosys (7 per cent), Wipro (15 per cent) and HCL Technologies (8 per cent) were up between 3 per cent and 15 per cent.