BSE Code: | NSE Code: | ISIN: | Sector:

NSE
552.90
Change Change %
0.25 0.05%

Updated:19 Jan, 2018, 15:48 PM IST

BSE
552.60
Change Change %
-0.20 -0.04%

Updated:19 Jan, 2018, 16:01 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Edelweiss
N/A
01-08-2017 Buy 405.40 546.00
N/A
Target Hit Long (1Y)
01-08-2018

Edelweiss maintains buy on Tech Mahindra

Tech Mahindra's Q1FY18 revenue at $1,138mn (up 0.6% QoQ, down 0.6% CC) and margin at 12.7% were ahead of Street's estimates on account of improvement in efficiency and LCC. Key quarter highlights were: 1) flat organic growth in enterprise business; 2) 70bps QoQ margin improvement in spite of currency & visa headwinds; and 3) strong pipeline in digital business-up 30% YoY-and 2.5x increase in deal sizes. Management reiterated confidence in its telecom/enterprise businesses as well as margin improvement going forward with LCC stabilising, digital business gaining traction and improvement in margin aided by higher utilisation, automation & non-recurrence of LCC-related expenses. Maintain 'BUY' with revised TP of INR546 (INR563 earlier).

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