Tech Mahindra shares up 3% on partnership with Israeli firm

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New Delhi: Shares of Tech Mahindra Ltd on Tuesday surged more than 3% 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 Rs548.10, then surged 3.20% to touch a high of Rs561.35 on the BSE. On the NSE the stock opened at Rs548, then jumped 3.26% to a high of Rs561.50.

Tech Mahindra on Monday 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.livemint