Tech Mahindra Ltd eases for fifth straight session

Tech Mahindra Ltd dropped for a fifth straight session today. The stock is quoting at Rs 1418.1, down 1.81% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.54% on the day, quoting at 24755.4. The Sensex is at 80723.46, down 0.54%.Tech Mahindra Ltd has eased around 5.18% in last one month.Meanwhile, Nifty IT index of which Tech Mahindra Ltd is a constituent, has eased around 4.35% in last one month and is currently quoting at 34548.3, down 1.74% on the day. The volume in the stock stood at 9.55 lakh shares today, compared to the daily average of 17.44 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 1419.1, down 2.04% on the day. Tech Mahindra Ltd tumbled 11.88% in last one year as compared to a 5.44% slide in NIFTY and a 19.77% fall in the Nifty IT index.

The PE of the stock is 35.11 based on TTM earnings ending June 25.

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