Tech Mahindra up almost 3%

Tech Mahindra is on the buzz today, currently up almost 3% at Rs.1027.95, closer to its intra day high at Rs.1030. Its 52-week high stands at Rs.1123.80.

From today, trading has stopped in Mahindra Satyam or Satyam Computers. Today, the shares of Satyam is getting merged into Tech Mahindra and the trade we are seeing today, is the first day of this merged entity. The record date has been fixed for 5^th July and the swap ratio is 2:7 – shareholders of Mahindra Satyam will get 2 shares of Tech Mahindra of Rs 10 each for every 17 shares held.