Prabhudas Lilladher's reserach report on Tech MahindraTech Mahindra (TechM) and Mahindra & Mahindra (M&M) have announced acquisition of ~76% stake in Italian automotive design and engineering services firm Pininfarina. The transaction will enhance the engineering design and services footprint of TechM (currently ~7% of revenues). The acquisition is marginally EPS dilutive in the short term, however TechM will benefit from revenue synergy, client acquisition and the resultant cross selling.BUY, TP of Rs640: Our price target is based on 15x Sep‐17 EPS (adjusted for treasury shares).For all recommendations, 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.
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