Tech Mahindra shares surge nearly 7 pct post strong Q3 performance

Shares of Tech Mahindra surged nearly seven per cent Wednesday after the IT company reported 27.5 per cent jump in December quarter profit. Tech Mahindra's stock gained 6.66 per cent to Rs 800 -- its one year high -- on BSE.

The scrip surged 6.52 per cent to its 52-week high of Rs 800 on NSE. The company Tuesday reported 27.5 per cent jump in December quarter net profit at Rs 1,203 crore, driven by automation measures which widened the profit margins. Overall revenue increased 15 per cent to Rs 8,944 crore during the quarter under review.