Mindtree share price gains on agreement with Nordex Group

Mindtree share price gained more than 2 percent intraday on November 23 after the company announced a five -year deal with the Nordex Group as its business transformation partner.

The Nordex Group is one of the leading global manufacturers of innovative onshore wind turbine systems, the company said in an exchange filing.

“The scope includes the standardisation and roll out of new projects and operational processes, the consolidation of existing IT services, and the development of a future-ready cloud platform which maintains a robust cybersecurity posture,” said Venu Lambu, Executive Director and President, Global Markets, Mindtree.

The stock was trading at Rs 1,390, up Rs 34.25, or 2.53 percent at 12:36 hours. It touched an intraday high of Rs 1,397 and an intraday low of Rs 1,361.80.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long term moving averages. The company has zero promoter pledge with low debt. FII/FPI or institutions increasing their shareholding.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.