Tech Mahindra Ltd drops for fifth straight session

Tech Mahindra Ltd fell for a fifth straight session today. The stock is quoting at Rs 1429.1, down 0.01% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 1.17% on the day, quoting at 23899.05. The Sensex is at 76440.61, up 1.21%.Tech Mahindra Ltd has eased around 0.06% in last one month.Meanwhile, Nifty IT index of which Tech Mahindra Ltd is a constituent, has eased around 0.87% in last one month and is currently quoting at 27795.75, up 1.25% on the day. The volume in the stock stood at 12.91 lakh shares today, compared to the daily average of 27.24 lakh shares in last one month.

The benchmark June futures contract for the stock is quoting at Rs 1434.1, down 0.17% on the day. Tech Mahindra Ltd tumbled 15.63% in last one year as compared to a 4.2% slide in NIFTY and a 27.97% fall in the Nifty IT index.

The PE of the stock is 34.69 based on TTM earnings ending March 26.

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