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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