Moneycontrol
Get App
Last Updated : Sep 18, 2018 04:52 PM IST | Source: Moneycontrol.com

Buy Tech Mahindra; target of Rs 760: Prabhudas Lilladher

Prabhudas Lilladher is bullish on Tech Mahindra has recommended buy rating on the stock with a target price of Rs 760 in its research report dated July 30, 2018.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Prabhudas Lilladher's research report on Tech Mahindra


Tech M delivered a steady result for 1QFY19 with a beat on both revenues and margins. Revenues for 1QFY19 came at USD1224mn down 1.6% QoQ and above our estimates (USD1219mn). Constant Currency growth for the quarter stood at 0.3% QoQ and above our estimates (We estimated 1% decline in cc revenues). Communication vertical revenues were down 6.5% QoQ and accounted to 39.6% of total revenues.


Outlook


We have already trimmed our earnings estimates modestly during 1Q preview. Our EPS estimates are retained at Rs46/50.5/sh for FY19/FY20E.  Stock trades at 13x FY20E EPS which is cheap (HCL Tech /Wipro also trading at 12.4/12.9x FY20E EPS). Our TP is retained at Rs760/sh (15x FY20E EPS). Retain BUY.


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.



Moneycontrol Ready Reckoner
Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.

First Published on Aug 2, 2018 03:40 pm
Sections
Follow us on