After the company reported better numbers for the quarter ended March 2022, Tech Mahindra shares fell in early trade on May 16. For the quarter ended March 2022, Tech Mahindra reported a 10 percent sequential rise in net profit, which surpassed analysts’ expectations of Rs 1,411 crore.<\/p>\n\n\n\n
In addition, the board has recommended a final dividend of Rs 15 per share for the fiscal year ending March 31, 2022, which represents a 5.8% rise quarter-on-quarter in the company’s revenue from operations.<\/p>\n\n\n\n
Morgan Stanley Research firm Morgan Stanley has kept an overweight rating on the stock and cut its target price to Rs 1,650 from Rs 1,800 per share after the March quarter earnings. Morgan Stanley’s top pick in the IT pack due to its attractive valuation. The company’s broad-based revenue growth outlook and ability to mitigate cost headwinds is strong, Citi brokerage house maintained its buy rating on the stock, but reduced its price target to Rs 1,400 per share from Rs 1,715 per share.<\/p>\n\n\n\n
Based on macro overhang, the company lowered FY23\/24 EPS estimates by 5%\/2% and cut the target multiple to 20x from 24x, Macquarie Broking house Macquarie has kept outperform ratings on the stock with a target of Rs 1,710 per share. Among the reasons for the margin miss were strong hires and higher direct costs in rupee terms by 2.2%. expects incremental revenue growth from synergy benefits from M&A in the near-term.<\/p>\n\n\n\n
According to UBS Research, the company’s Q4 revenue was in line with expectations while profit margin missed estimates. The stock has a target price of Rs 1,260 per share.<\/p>\n\n\n\n
Management expects pricing to take some time to take effect. Enterprise and telecom businesses have robust pipelines . Goldman Sachs Broking has maintained a neutral rating with a target price of Rs 1,429. Despite weak pricing power, EBIT has below expectations.<\/p>\n\n\n\n
Goldman Sachs’ EPS projections for FY23-26 had been cut by up to 2%. Tech Mahindra’s target price has been cut to Rs 1,650 from Rs 1,800 by JPMorgan Research. Growth and deal momentum were impressive, but margins were crimpy and valuations were undemanding. a research firm reduced revenue estimates for FY23\/24 by 1% and margins could come under pressure in FY23.<\/p>\n\n\n\n
According to Tech Mahindra, the company quoted at Rs 1,198.00 at 09:18 hrs, down Rs 4.30, or 0.36 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"
After the company reported better numbers for the quarter ended March 2022, Tech Mahindra shares fell in early trade on May 16. For the quarter ended March 2022, Tech Mahindra reported a 10 percent sequential rise in net profit, which surpassed analysts’ expectations of Rs 1,411 crore. In addition, the board has recommended a final […]<\/p>\n","protected":false},"author":1,"featured_media":86575,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[192,101],"class_list":["post-86574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-mahindra","tag-tech"],"_links":{"self":[{"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/posts\/86574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/comments?post=86574"}],"version-history":[{"count":1,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/posts\/86574\/revisions"}],"predecessor-version":[{"id":86576,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/posts\/86574\/revisions\/86576"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/media\/86575"}],"wp:attachment":[{"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/media?parent=86574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/categories?post=86574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/tags?post=86574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}