HomeNewsBusinessStocksBuy Tech Mahindra; target of Rs 1410: ICICI Direct
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Buy Tech Mahindra; target of Rs 1410: ICICI Direct

ICICI Direct is bullish on Tech Mahindra has recommended buy rating on the stock with a target price of Rs 1410 in its research report dated May 15, 2022.

Broker Research
May 16, 2022 / 16:46 IST
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The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.
The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

ICICI Direct's research report on Tech Mahindra

Tech Mahindra (TechM) has over 1.2 lakh employees across 90 countries serving 1000+ clients with higher exposure to telecom (40% of revenues). Apart from telecom, the company caters to BFSI, manufacturing & retail • TechM has grown organically & inorganically (dollar revenue CAGR of 6.6% over the past five years).

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Outlook

We continue to remain positive and retain our BUY rating on the stock. We value TechM at Rs 1410 i.e. 17x P/E on FY24E EPS
 For all recommendations report, click here

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