Tech Mahindra gains on inking MoU with University of Auckland

Tech Mahindra is currently trading at Rs. 1606.40, up by 4.60 points or 0.29% from its previous closing of Rs. 1601.80 on the BSE.

The scrip opened at Rs. 1619.80 and has touched a high and low of Rs. 1619.80 and Rs. 1606.40 respectively. So far 12339 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1671.50 on 17-Sep-2024 and a 52 week low of Rs. 1089.00 on 26-Oct-2023.

Last one week high and low of the scrip stood at Rs. 1643.00 and Rs. 1583.05 respectively. The current market cap of the company is Rs. 156712.03 crore.

The promoters holding in the company stood at 35.05%, while Institutions and Non-Institutions held 54.11% and 10.85% respectively.

Tech Mahindra has signed a memorandum of understanding (MoU) with the University of Auckland (UoA). This MoU will accelerate research and innovation in artificial intelligence?(AI), machine learning (ML), and quantum computing across various industries, including healthcare, banking, financial services, and insurance. This also includes cooperation with the government sector. Tech Mahindra and UoA's collaboration will enhance the cooperation between industry and academia, with the goal of improving UoA graduates' employability.  

The collaboration will also focus on cutting-edge AI and ML technologies, such as spiking neural networks and 1-bit LLMs (Large Language Model).  In addition, Tech Mahindra will be advancing quantum security through post-quantum cryptography. Additionally, the organizations will leverage AI and quantum ML in healthcare, with applications such as drug discovery and digital biomarkers for personalized therapy, enabling innovations in the healthcare sector globally. 

Joint research initiatives between UoA and Tech Mahindra will further integrate academic data resources and expert research insights to develop industry use cases for global markets.?The collaboration will introduce Generative AI and its benefits to Indigenous communities and offer internships at Tech Mahindra, providing potential candidates with the opportunity to learn AI, ML, and other emerging technologies. 

This collaboration will advance Tech Mahindra’s local capabilities in New Zealand, incorporating next-gen technologies and showcasing thought leadership through research papers and enhanced participation in academic conferences.  

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