Hold Tech Mahindra; target of Rs 1100: ICICI Direct

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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 6.6% over the past five years).

Outlook

We change our rating from BUY to HOLD on the stock. We value TechM at Rs 1100 i.e., 13x P/E on FY25E EPS.

For all recommendations report, click here

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Tech Mahindra - 01 -01-2023 - ic