Response Informatics surges 4.5% after entering into Master Service Agreement with Tech Mahindra

The three-year agreement will pave the way for both companies to a long-term strategic alliance, the company said.

Sep 15, 2021 10:09 IST India Infoline News Service

Response Informatics Ltd and Tech Mahindra have come together with a Master Service Agreement that will pave the way for both companies to a long-term strategic alliance. The Master Service Agreement will be in force for 3 years.

The company said, that this agreement will enable Response Informatics to become an official vendor to provide quality manpower resources for various projects that are run by Tech Mahindra.

“The agreement entails us to give IT professionals both as full-time employees and Contract to hire resources. Whereas the Contract to Hire resource availability will be on the payroll of Response Informatics Ltd for a consideration, Full time employees are enabled to join on the payroll of Tech Mahindra on a fixed percentage,” company said in a filing.

It further said, the arrangement of vendorship is qualified by Tech Mahindra based on the talent and experience of sourcing the right candidates and availability of bench resources with Response Informatics.

At around 10.08 am, Response Informatics Ltd was trading at Rs10.30 per piece up by Rs0.44 or 4.46% from its previous closing of Rs9.86 per piece on the BSE.

Tech Mahindra Ltd was trading at Rs1,445.25 per piece down by Rs5.4 or 0.37% from its previous closing of Rs1,450.65 per piece on the BSE.

Related Story

Open Free Demat Account (Rs699)