Tech Mahindra soars on collaborating with IBM

Tech Mahindra is currently trading at Rs. 1297.75, up by 23.15 points or 1.82% from its previous closing of Rs. 1274.60 on the BSE.

The scrip opened at Rs. 1275.05 and has touched a high and low of Rs. 1311.25 and Rs. 1275.05 respectively. So far 139602 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1416.00 on 23-Jan-2024 and a 52 week low of Rs. 1039.20 on 17-May-2023.

Last one week high and low of the scrip stood at Rs. 1311.25 and Rs. 1248.35 respectively. The current market cap of the company is Rs. 126023.38 crore.

The promoters holding in the company stood at 35.09%, while Institutions and Non-Institutions held 53.74% and 11.17% respectively.

Tech Mahindra has collaborated with IBM to help businesses worldwide responsibly accelerate the adoption of generative AI (GenAI). TechM amplifAI, Tech Mahindra’s suite of AI offerings and solutions, can integrate with the IBM watsonx AI and data platform with AI Assistants to bring new GenAI and governance capabilities to enterprises.

Customers can combine the power of IBM watsonx and Tech Mahindra’s strong AI consulting and engineering skills to access various new GenAI services, frameworks, and solutions architectures. This can allow for the delivery of AI applications, where businesses can access their trusted data and automate processes. This can provide the foundation for customers to build trustworthy AI models and drive explainability to help mitigate risk and bias. It could also promote scalable adoption of AI across hybrid cloud and on-premises environments.

To help customers enhance business capabilities in AI, Tech Mahindra has a virtual watsonx Centre of Excellence (CoE), which is already in operation. The CoE serves as a co-innovation center, with a specialized team dedicated to optimizing the synergies between both organizations and developing unique offerings and solutions based on their strengths. The collaborative offerings and solutions developed could help enterprises accomplish their goals of building machine learning models using open-source frameworks while also enabling them to scale and accelerate the impact of GenAI. These solutions could help organizations responsibly bring efficiency and productivity.

Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise.