Tech Mahindra

The government led by Prime Minister Narendra Modi has unveiled various measures to arrest the falling growth -- from rolling back of higher tax surcharge for foreign investors to mega reforms in the public sector banking space.

The transformation roadmap also aims to optimise AT&T's IT application footprint by aggregating functionalities while optimising business processes, costs, efficiencies and overall quality.

The Shanghai Composite Index added 0.45 per cent while MSCI's index of Asia-Pacific shares outside Japan gained 0.5 per cent. But sentiment in the wider region remained subdued amid worries about a global recession.

Among the other prominent losers were Tata Steel, ICICI Bank, UltraTech Cement, Titan, Indian Oil Corporation and Tata Motos which lost between 4 and 4.5 per cent each. Heavyweight Reliance Industries plunged by 3.8 per cent while Jindal Steel lost by 3.6 per cent.

Hong Kong's Hang Seng was down by 0.1 per cent after anti-government protests. The Shanghai Composite Index fell by 0.05 per cent but Japan's Nikkei moved up marginally by 0.09 per cent.

At 10:15 am, the BSE S&P Sensex was down 120 points at 37,277 while the Nifty 50 slipped 44 points to 11,042. At the National Stock Exchange, sectoral indices were mixed with Nifty IT and realty dropping by 1.2 per cent while PSU banks gained over 1 per cent.

Among stocks, UPL gained 2.7 per cent while Yes Bank continued its upward slide by 2.3 per cent. Zee Entertainment, Kotak Mahindra Bank and Tech Mahindra also traded in the green.

Among stocks, JSW Steel gained 3.5 per cent to Rs 263.90 per share while Tata Steel was up 2.4 per cent to Rs 465.90 apiece. Mining major Vedanta was up 3.1 per cent as Hindalco gained by 2 per cent.

Tech Mahindra's consolidated revenue from operations during January to March increased over 10 per cent to Rs 8,892 crore as against Rs 8,055 crore in the year-ago quarter, the company said in a statement.

New Delhi: Software major Tech Mahindra on Friday announced the setting up of a new business unit to leverage cutting-edge...