Tech Mahindra Ltd eases for fifth straight session

Tech Mahindra Ltd dropped for a fifth straight session today. The stock is quoting at Rs 1559.1, down 0.31% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.52% on the day, quoting at 23655.6. The Sensex is at 75641.71, down 0.65%.Tech Mahindra Ltd has eased around 4.93% in last one month.Meanwhile, Nifty IT index of which Tech Mahindra Ltd is a constituent, has eased around 5.14% in last one month and is currently quoting at 29995.2, up 0.03% on the day. The volume in the stock stood at 6.68 lakh shares today, compared to the daily average of 21.86 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 1569.1, up 0.07% on the day. Tech Mahindra Ltd jumped 4.06% in last one year as compared to a 4.88% slide in NIFTY and a 14.9% fall in the Nifty IT index.

The PE of the stock is 38.3 based on TTM earnings ending June 26.