Jobaaj Stories
Shares of Tech Mahindra, one of India's largest IT services companies, saw a great day at the bourses, even though benchmark indices like the Nifty fell.
The shares of Tech Mahindra grew over 6% in today's session as the company announced the appointment of Mr Mohit Joshi as its new MD & CEO once existing CEO Mr CP Gurnani retires in December 2023.
Mohit Joshi, the newly appointed CMD of Mahindra Group's IT arm, is a seasoned professional, having demonstrated exceptional leadership abilities during his 22-year tenure at Infosys. He spearheaded various critical functions, including banking platform, sales operations, and CIO, among others, and was appointed the President of Infosys in 2016.
He worked with AZN Grindlays and ABN AMRO in their Corporate and Investment Bank. He has served as the Vice Chair of the Economic Growth Board of the Confederation of British Industry and as Non-Executive Director at Aviva PLC since 2020.
According to the company, Joshi would join around June 2023 to allow sufficient transition time to the company, as his term at Infosys is to expire around the same time.
The stock, which had been declining since Late-February, witnessed a massive gap-up opening as the stock, which closed around Rs 1,060 per share yesterday, opened at Rs 1125 per share!
Although benchmark indices like the Nifty and Sensex fell over 1.5% in today's session, Tech Mahindra led the gainers in Group A as it touched a high of Rs 1,164.70 per share to close at Rs 1133.80 per share, up 6.84% in a single session!
- Aman Agarwal
