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Last Updated : Sep 24, 2020 01:53 PM IST | Source: Moneycontrol.com

Buy Tech Mahindra; target of Rs 910: Sharekhan

Sharekhan is bullish on Tech Mahindra has recommended buy rating on the stock with a target price of Rs 910 in its research report dated September 23, 2020.

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Sharekhan's research report on Tech Mahindra

Revenue growth in Q2 would be driven by strong recovery in BPO business, stability around network services revenue and growth in BFSI, healthcare, and technology verticals. We expect margin improvement going ahead, led by higher offshoring, reduction in subcontractor expenses, improvement in margin profile of two large deals, and better profitability of acquired entities. Tech M is well placed to benefit from the expansion of 5G value chain across networks and IT services, when there is pick up in investments by CSPs and higher 5G adoption by enterprise would happen.


We maintain our Buy rating on Tech Mahindra (TechM) with a revised PT of Rs. 910, given it is trading at a sharp discount to its large peers.

For all recommendations report, click here

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First Published on Sep 24, 2020 01:53 pm