NSE: TECHM | BSE: 532755

Mid-range Performer

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1545.80 -28.10 (-1.79%)

29.50% Gain from 52W Low

1.3M NSE+BSE Volume

NSE 02 Jun, 2025 2:21 PM (IST)

151,356.2

Market Cap

High in industry

0.9

Beta 1Year

Low volatility

Tech Mahindra Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for TECHM, BSE:532755 Tech Mahindra Ltd.

Tech Mahindra Ltd.

31 Jul 2019

1545.80

-1.79%

Tech Mahindra

Buy: Tech Mahindra Ltd.

Recommendation Target

ICICI Securities Limited

Large deal wins to offset pressure in legacy business Despite winning large deals over the past few quarters, the company is unable to register healthy growth mainly due to pressure on the traditional business, auto in manufacturing, softness in BFSI and project volatility in healthcare. However, going forward, the large deal wins in communication, healthy pipeline in BFSI and healthcare are expected to help improve growth in coming quarters. The company has won US$475 million deals across communication and enterprise segment in Q1FY20. This, coupled with...

Tech Mahindra Ltd. is trading below its 100 day SMA of 1547.6

Tech Mahindra Ltd.

31 Jul 2019

1545.80

-1.79%

Tech Mahindra (ADD): Miss on all counts

Tech Mahindra Ltd.

BOB Capital Markets Ltd.

Tech Mahindra (TECHM) posted a disappointing Q1FY20 as (1) revenue contracted in all verticals except others', (2) top 5/10/20 client performance flagged, (3) EBIT margins shrank 390bps QoQ, (4) attrition failed to cool off, (5) DSO rose due to high unbilled revenues, and (6) cash generation slumped.

Number of FII/FPI investors increased from 1089 to 1095 in Mar 2025 qtr.

Tech Mahindra Ltd.

30 Jul 2019

1545.80

-1.79%

Q1FY20 Result Update

Sell: Tech Mahindra Ltd.

Recommendation Target

Prabhudas Lilladhar

Tech M disappointed with de-growth in revenues (-1% QoQ CC, -1.6% QoQ Change in Estimates | Target | Reco USD) (Ple: 0.7% QoQ CC, 1% QoQ USD) & margin fall of 391 bps QoQ to 11.5%(Ple: 12.8%). Weakness was across verticals, telecom declining by 3.2%...

Number of FII/FPI investors increased from 1089 to 1095 in Mar 2025 qtr.

Tech Mahindra Ltd.

30 Jul 2019

1545.80

-1.79%

Significant margin miss drives 8-11 % earnings cut

Buy: Tech Mahindra Ltd.

Target

Motilal Oswal

Profit below est. due to plummeting margins: 1QFY20 revenue grew 3.7% YoY CC (v/s est. of +3.8% YoY), EBIT declined 8% YoY (v/s est. of +10.5% YoY) and PAT increased 7% YoY (v/s est. of +17.9% YoY). EBIT margin declined 390bp QoQ to 11.4% (220bp miss to our est. of 13.6%). Margins were primarily impacted by a sharp decline in GPM, down 430bp QoQ to 28.8% (260bp below our est.). PAT at INR9.6b, was down 15% QoQ (9% miss to our est.), mainly due to operational miss; it was partially offset by higher other income at INR3.4b (v/s est. of INR2.6b)....

Geojit BNP Paribas upgraded Tech Mahindra Ltd. to Buy with a price target of 1790.0 on 20 May, 2025.

Tech Mahindra Ltd.

06 Jun 2019

1545.80

-1.79%

Tech Mahindra (ADD): Key takeaways from interaction with TECHM's manufacturing head

Buy: Tech Mahindra Ltd.

BOB Capital Markets Ltd.

Key takeaways from interaction with TECHM's manufacturing head Tech spending on rise: Changing portfolio, cloud adoption, etc. are impacting CIO functions and translating into reduction in CIO budget led by contraction of spending on legacy IT systems. However, the overall enterprise Tech spending has increased to ~6.5% of overall revenues V/s ~4.5% earlier backed by increase in tech penetration in areas like 1) products and product embedded software 2) Factories and 3) CMO budgets customer experience, digital dealerships, etc. Productized and platform-based solutions in demand: As enterprises...

Tech Mahindra Ltd. is trading below its 100 day SMA of 1547.6

Tech Mahindra Ltd.

04 Jun 2019

1545.80

-1.79%

First Light: Weekly Eco Wrap, Tech Mahindra, Oil & Gas

Buy: Tech Mahindra Ltd.

BOB Capital Markets Ltd.

Global markets were taken by surprise after US announced tariffs on Mexican imports. Disappointing China's manufacturing data too added to global concerns. Global stocks and yields also fell. Oil extended the decline and is currently down by (-) 10% (US$ 61/bbl). Indian yields fell to a 19-month low. Bond yields are pricing-in a rate cut by RBI. While lower GDP growth at 5.8% is a worry, government's stimulus has already been expanded to Rs 870bn from Rs 750bn. RBI may look at monsoon and Budget before taking its view....

Tech Mahindra Ltd. has an average target of 1717.80 from 10 brokers.

Tech Mahindra Ltd.

03 Jun 2019

1545.80

-1.79%

Tech Mahindra (ADD): US-Huawei feud casts uncertainty over 5G opportunity

Buy: Tech Mahindra Ltd.

Recommendation

BOB Capital Markets Ltd.

US-Huawei feud casts uncertainty over 5G opportunity Escalating tensions between the US government and Huawei, the world's largest provider of networking gears, raise uncertainty over global 5G rollout. Potential disruptions would hit Europe the hardest considering Huawei's prominence in the region, though the US is unlikely to be immune, per industry experts. Higher costs, supply chain disturbances and rollout delays are key concerns, making the 5G opportunity' a more distant catalyst for Tech Mahindra (TECHM) than...

Tech Mahindra Ltd. is trading above its 50 day SMA of 1464.8

Tech Mahindra Ltd.

28 May 2019

1545.80

-1.79%

Tech Mahindra Limited

Results Update: Tech Mahindra Ltd.

SMC online

Number of FII/FPI investors increased from 1089 to 1095 in Mar 2025 qtr.

Tech Mahindra Ltd.

27 May 2019

1545.80

-1.79%

Result Update:Tech Mahindra

Hold: Tech Mahindra Ltd.

Recommendation Target

Axis Direct

Tech Mahindra Ltd. reported subdued growth on all counts in Q4FY19, slowdown in key business vertical may impact its revenue growth in forthcoming quarters. Tech Mahindra's consolidated revenue declined by 5.7% QoQ but reported a 10.4% YoY revenue growth.

Tech Mahindra Ltd. has gained 25.83% in the last 1 Year

Tech Mahindra Ltd.

22 May 2019

1545.80

-1.79%

Tech Mahindra (4QFY19): Slowdown evident. Downgrade to SELL

Sell: Tech Mahindra Ltd.

Recommendation Target

HDFC Securities

Healthy margin expansion of ~400bps over two years has led to re-rating of the stock. But now, with limited margin levers available, focus will shift back to growth, which is under pressure (+4.2% in FY19, second lowest in Tier-1 IT). Slowing growth in Enterprise, challenges in Manufacturing and BFSI is adding to the worries. Also, sustainability of Telecom growth is questionable considering macro concerns. Overall, we expect USD revenue CAGR of 7.2% over FY19-21E led by Telecom/Enterprise CAGR of 8/7%. Growth and margin challenges will lead to 5.4% earnings CAGR over FY19-21E. TechM trades at a P/E of 15.6x FY20E, which is expensive considering inferior growth metrics, thus we downgrade it to SELL. Risk to our thesis includes better than expected macros in US/Europe, uptick in 5G spending and INR depreciation. We downgrade Tech Mahindra to SELL (from BUY), post weak 4QFY19. Slowdown in Enterprise segment and peaking margins are a cause of concern. Growth metrics remain weak (+5.4% earnings CAGR) with inferior business mix vs. peers (Telecom dependency). We cut earnings est. by ~4% and multiple to 12x (vs 15x earlier) to arrive at a TP of Rs 652 (~15% downside from CMP).

Tech Mahindra Ltd. is trading above its 50 day SMA of 1464.8

Is Tech Mahindra Ltd. worth buying?

945 Votes:

Buy 77.57%

Sell 10.9%

Hold 11.53%

RESEARCH REPORTS

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