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Buy Tech Mahindra; target of Rs 2150: ICICI Direct

ICICI Direct is bullish on Tech Mahindra recommended buy rating on the stock with a target price of Rs 2150 in its research report dated December 28, 2021.

December 28, 2021 / 03:53 PM IST
 
 
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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 5.6% over the past five years).



Outlook


We remain positive on the stock and maintain BUY rating. We roll over valuations to FY24E and value Tech M at Rs 2150 i.e. 25x P/E on FY24E EPS.

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For all recommendations report, click here


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first published: Dec 28, 2021 03:53 pm
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