Strong outlook, undemanding valuation make Tech Mahindra an attractive bet
Technology | Representative image
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
In this week’s tactical pick, we have selected Tech Mahindra (CMP: Rs 1,454, Nifty level: 17,560) that has corrected over 16 percent in the past fortnight against a 9 percent fall in the IT index and a 4 percent decline in the Nifty. The recently concluded quarter’s earnings, while directionally positive, was tad soft, thanks largely to seasonality. Revenues at $ 1533.5 million showed a sequential growth of 4.1 percent in reported currency and 4.7 percent in constant currency, with organic…
