Tech Mahindra’s shares will be a topic of interest on Monday, January 20, after the company shared some exciting news: in the last three months ending December 31, 2024, they enjoyed a fantastic 93% increase in their found profit, reaching Rs 983 crore (about $119 million!). This is much higher than the Rs 510 crore profit from the same time last year.
For the quarter, Tech Mahindra’s revenue, which is the money they earned from their business, went up a little bit—by 1.4%—to Rs 13,286 crore compared to Rs 13,101 crore last year. When we look just at the dollar amount, they made $1,567 million this time, which is slightly down from last year and also a bit lower than the previous quarter.
Their Earnings Before Interest, Taxes, Depreciation, and Amortisation (that’s a complicated way of saying their profit before some costs are taken out) increased by 3.4% from last quarter and jumped up 57.8% compared to last year.
Here’s what different experts are saying about whether it’s a good time to buy, sell, or hold Tech Mahindra’s stock:
– Nomura: They are optimistic and have a ‘Buy’ rating, suggesting a target price of Rs 1,900. They see that Tech Mahindra is progressing well and believes they are on track to meet their goals over the next few years. They expect good revenue growth.
– Morgan Stanley: They think it’s a good idea to hold the stock and have set a target price of Rs 1,750. They are somewhat cautious, predicting that it won’t have a lot of growth due to how the company is set up. However, earnings performed better than expected, especially in certain industries like healthcare and finance.
– Citi: They are not very positive and have given Tech Mahindra a ‘Sell’ rating, with a target price of Rs 1,440. They felt that the latest earnings weren’t as good as expected and think tough market conditions will hurt future earnings.
Disclaimer: The views and opinions shared by the experts are personal and do not reflect the views of NiftyStat.
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