Credit Suisse maintained its outperform rating on Tech Mahindra while Jefferies maintained its buy rating on Tech Mahindra with a target price of Rs 880
Manish Vyas, President of Communications Business and Chief Executive Officer of Network Services, Tech Mahindra said 4G is yet to touch all parts of the country, and while that happens on a massive scale, there are some "definite green-shoots" of 5G trials.
The IT major is expected to come out with its March quarter earnings on May 21.
After choking on bear grip for nine straight sessions, the bulls got some breathing space on may 14
At 1121 hrs, the Nifty IT index was trading at 16,191.35, down 1.29 percent. All the constituent stocks are trading in the negative, with TCS being the biggest loser, down 2.05 percent
Both TCS and Infosys hold 27 percent each in the index weight and they are likely to take leadership alternatively to help index inch up
"...the Investment Committee of the Board of Directors of the company has approved the proposal to acquire 18.1 per cent equity shares each of ISS and Vitaran Electronics," Tech Mahindra said in a regulatory filing.
Net Sales are expected to increase 11 percent Y-o-Y to Rs. 8,939.2 crore, according to Prabhudas Lilladher.
Net Sales are expected to increase by 0.6 percent Q-o-Q (up 15.7 percent Y-o-Y) to Rs. 8,997.2 crore, according to Kotak.
According to the report, growth in the IT sector will be led by the increasing number of large deals won by companies over the past two quarters
"Around 75 percent of our book is hedged for the next few quarters," Bhat added.
K-Vision provides network services for mobile communications to telecom operators in Japan. The company earned revenue of $4.8 million during 12-month period ended January 31, 2019.
ISG Provider Lens report examines five client archetypes and evaluates providers for digital transformation journeys.
Last week, the board of India's fifth largest IT company Tech Mahindra approved a share buyback for a total sum not exceeding 1,956 crore rupees at a price of 950 rupees per share.
The breadth of the market favoured the advances with 1501 stocks advancing and 251 declining while 333 remained unchanged. On the BSE, 2041 stocks advanced, 580 declined and 163 remained unchanged.
Vineeta Sharma of Narnolia Financial Advisors said investor with a short term, one-year horizon may tender shares for the buyback, while those having a long term horizon may continue holding the stock.
Speaking on its first buyback, Manoj Bhat, CFO of Tech Mahindra, said the company will adopt a dividend plus buyback strategy
The 'Rakuten Cloud Innovation Laboratory' is a fully automated testing facility that aims to foster innovation across mobile network, IT digital architecture, cloud and enterprise applications, a statement said.
Tech Mahindra is aiming to beat the Nasscom industry guidance for the next fiscal, says CEO CP Gurnani.
Motilal Oswal is bullish on Tech Mahindra has recommended buy rating on the stock with a target price of Rs 860 in its research report dated February 05, 2019.
CLSA expects NASSCOM, the trade association of Indian IT-BPM industry, to guide for 8-10 percent growth for the industry in FY20
While maintaining overweight call on the stock with a price target at Rs 830, global brokerage house Morgan Stanley said the buyback could be its first ever and positive for sentiment
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 16.5 point, or 0.15%. Nifty futures were trading around 10,771-level on the Singaporean Exchange.