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Buy Tech Mahindra: target of Rs 2060: Sharekhan

Sharekhan is bullish on Tech Mahindra has recommended buy rating on the stock with a target price of Rs 2060 in its research report dated December 27, 2021.

December 28, 2021 / 01:53 PM IST
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Sharekhan's research report on Tech Mahindra

Tech Mahindra (TechM) is expected to report 4% q-o-q revenue growth in constant currency (CC) in Q3FY2022. EBIT margin to remain stable on a sequential basis. TechM is well-placed to capture incremental share in 5G, given strong domain knowledge, robust client relationship, and excellent partner ecosystem. We expect TechM’s total deal TCVs to be around $650 million in Q3FY2022, higher than its average quarterly run-rate of $400 million- $500 million, but lower compared to $750 million deal TCVs in Q2FY2022.


We maintain Buy on TechM with a revised PT of Rs. 2,060, given improving execution, a strong revenue growth potential, margin stability, healthy deal TCVs, and a good capital allocation.

For all recommendations report, click here


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first published: Dec 28, 2021 01:53 pm
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