Tech Mahindra to acquire more shares in Pininfarina, raise stake to 92.59%

Tech Mahindra reported movement of 92.59% and 82.57%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.

Against that, the stock is +0.5% on the day at ₹1,831.00, and has returned +12.2% over three months. It is trading close to its 52-week high, so expectations were already elevated going in. The it sector has moved -2.7% over the same period, so Tech Mahindra is running 14.9 points ahead of its peers.

For Tech Mahindra, the question is how much of this is already reflected in the price and how much re-rates the it peer set alongside it.