Tech Mahindra Shares Plummet 6%
Tech Mahindra's shares dive 6% after disappointing Q3 results, hitting a day's low of ₹1,320.05 on NSE
Q3 Financial Performance
Q3 2023 sees a 61% YoY drop in net profits, reaching ₹510.4 crore, as revenue experiences a 4% YoY decline
Earnings Before EBITDA
EBITDA witnesses a significant 46.5% YoY decrease, amounting to ₹1,146 crores
Brokers' Ratings
Leading brokerages, including Kotak and Motilal Oswal, maintain 'Reduce' ratings, expressing a pessimistic outlook
Kotak Equities lowers target price to ₹1,330, citing macro challenges and a long turnaround journey for Tech Mahindra
Kotak's View
Nuvama Wealth Management lowers target price to ₹1,020, anticipating challenges in bookings, revenue, and margins for Tech Mahindra
Nuvama's Perspective
Motilal Oswal maintains a neutral rating, values stock at 20 times FY26E EPS, sees potential in 5G, but notes weak near-term growth
Motilal Oswal's Neutral Stance
The provided information is for informational purposes only and does not constitute financial advice. Investing in the stock market involves risks
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