Moneycontrol

Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo

Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
Webinar :Join an expert panel for a webinar on Smart investments for a secure retirement January 28, 2021. Register now!

Buy Tech Mahindra: target of Rs 1100: Sharekhan

Sharekhan is bullish on Tech Mahindra has recommended buy rating on the stock with a target price of Rs 1100 in its research report dated December 18, 2020.

December 21, 2020 / 03:15 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on Tech Mahindra


We assume Tech M would report revenue growth of 1.9% q-o-q in Q3 despite furloughs, led by strong growth in BFSI, retail and technology verticals, recovery in engineering division and strong Comviva seasonality. We believe total deal TCVs would remain in the range of its average quarterly deal TCVs of $400 million-$500 million in Q3FY2021; small sized deal pipelines are converting faster compared to large deal pipelines. Tech M is well placed to capture the opportunity arising from 5G adoption by telecom and enterprise clients; expect to deliver improved revenue growth (at high-single digit) in FY2022, at 15% EBIT margin.


Outlook


We maintain Buy on Tech Mahindra (TechM) with a revised PT of Rs. 1,110, given it is trading at an attractive valuation.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Dec 21, 2020 03:15 pm

stay updated

Get Daily News on your Browser
Sections