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Tech Mahindra Surges 6 Percent on Strong Q2 Earnings and Bonus Issue
M
Moneycontrol•19-10-2026, 15:53
Tech Mahindra Surges 6 Percent on Strong Q2 Earnings and Bonus Issue
- •Tech Mahindra shares surged 6 percent following a 32.7 percent jump in consolidated Q2 profit and a 1:1 bonus share issue.
- •Vascon Engineers gained 5 percent after securing a Rs 198 crore order from State Bank of India in Pune.
- •Wipro rose over 4 percent despite a slight decline in net profit, backed by a 9.06 percent growth in quarterly revenue.
- •Mankind Pharma declined 2 percent following its announcement to acquire a majority stake in Belgium-based Armed Cell Therapeutics B.V. for 48 million euros.
- •IIFL Finance dropped 1 percent despite reporting a significant year-on-year surge in Q2 net profit.
Key Questions Answered
Tech Mahindra shares surged 6 percent following a 32.7 percent jump in its consolidated Q2 profit to Rs 1,585.6 crore and a revenue growth of 15.6 percent to Rs 16,180.2 crore. Additionally, the board declared an interim dividend of Rs 15 per share and approved a 1:1 bonus equity share issue.
Mankind Pharma shares fell 2 percent after the company announced its plans to acquire a majority stake in Belgium-based Armed Cell Therapeutics B.V. for 48 million euros.
Vascon Engineers shares added 5 percent after receiving a Letter of Acceptance amounting to Rs 198 from the State Bank of India for the construction of SBILD, residential flats, and other commercial outfits at Hinjewadi, Pune.
