The rising Index, with a high number of constituents participating, confirms a bullish trend and sustainability of the Index at higher levels, say some experts. However, one fund manager says the data hides more than it reveals, given that the returns so far have been abysmal.
The stock is down close to 40 percent from its 52-week high of Rs 1,838
The board of the company has also recommended a final dividend of Rs 15 per share for the financial year ended March 31, 2022.
Experts expect the rise in employee attrition and travel costs to impact EBITDA margins, which are likely to shrink by around 235 bps on year and 35 bps on quarter to 17.6 percent
Supply-side challenges around high attrition, higher-than-usual pay increases for offshore employees and resumption of some discretionary spending like that on business travel will weigh on margins in the fourth quarter
The Nifty IT has fallen more than 11 percent in 2022, as investors turn pessimistic over the sustainability of the sector’s rich valuations amid the possibility of a sharp increase in interest rates at home and abroad
Tech Mahindra Q3 result | The IT company reported a 5.2 percent sequential rise in consolidated revenues of Rs 11,451 crore.
The IT services company has made 10 acquisitions in the first ten months of the current financial year at a cash outlay of nearly $900 million.
Nifty futures on the Singaporean Exchange indicate a flat start to indices here. The index futures were trading at 10,922.5, up 1 point on the SGX.
Considering the technical and derivative evidence, we believe that, short-term trend in the Nifty is still bullish and one should remain optimistic for the market for the coming days.
As we step into the New Year, analysts expect low volumes during the week, as worldwide financial markets will remain closed on Tuesday on account of a New Year day.
Tech Mahindra recently announced a partnership with ChromaWay to deliver blockchain technology to the Indian market. "ChromaWay is a Stockholm-based company which has been pioneering blockchain solutions in the public and private sector since 2014," the statement said.
After successfully acquiring the international operations of a US-based BPO firm and picking up minority stake in an Indian software firm, Mahindra Satyam has said it is looking at acquisitions in South and Central America and Eastern Europe.
The combined entity resulting from the merger of Tech Mahindra Ltd and Satyam Computer Services Ltd may hire as many as 10,000 new employees in the current fiscal year, said Vineet Nayyar, CEO of Tech Mahindra.