Technical Analyst Anil Singhvi has maintained 'buy' rating on Tech Mahindra Ltd stock to achieve a short term target of Rs 798.

According to him, interested traders can purchase the stock with a stop loss of Rs 762.

Today, the stock opened at Rs 782 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1158 and a low of Rs 320 on BSE.

Current EPS & P/E ratio stood at 58.27 and 13.39 respectively.

According to recent reports, the US telecom giant AT&T has exited Tech Mahindra by divesting its 7% holding stake in the company for Rs 655 crore.

At its sales cost of Rs 762, AT&T has bagged a profit of Rs 600 per share.

It had bought BT's holding of 99 lakh shares (8.07%) stake in Tech Mahindra during the last month as part of a May 2005 contract with the telecom solutions vendor.

The transaction gave AT&T the alternative to acquire Tech Mahindra shares at a pre-set price of $3.5022 from Mahindra BT Investment Co, if it was capable of generating a pre-defined profit target for Tech Mahindra.

AT&T had the opportunity to purchase 99 lakh shares before July 31 2010 out of which, it sold 13 lakh previously. Of the 86 lakh shares sold on Wednesday, LIC purchased 73.6 lakh shares.