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    Motilal Oswal Financial Services neutral on Tech Mahindra; target price: Rs 1020

    Synopsis

    Tech Mahindra, incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 97441.19 Crore) operating in IT Software sector.

    NeutraliStock
    Promoters held 35.19 per cent stake in the company as of 31-Dec-2022, while FIIs owned 27.95 per cent, DIIs 23.54 per cent.Here are the key strong points of the stock according to Trendlyne.com SWOT analysis.-Growth in quarterly net profit with increasing profit margin (YoY)-Increasing revenue and profit every quarter for the past 2 quarters-Strong cash generating ability from core business - improving cash flow from operation for the last 2 years-FII/FPI or Institutions increasing their shareholding-Recent Results: Growth in operating profit with an increase in operating margins (YoY)-Strong Momentum: Price above short, medium and long-term moving averages
    Motilal Oswal Financial Services has neutral call on Tech Mahindra with a target price of Rs 1020. The current market price of Tech Mahindra is Rs 1000.5.

    Tech Mahindra, incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 97441.19 Crore) operating in IT Software sector.

    Tech Mahindra key Products/Revenue Segments include Software Services for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 13981.70 Crore, up 4.19 % from last quarter Total Income of Rs 13419.65 Crore and up 19.77 % from last year same quarter Total Income of Rs 11673.90 Crore. Company has reported net profit after tax of Rs 1294.30 Crore in latest quarter.

    The company’s top management includes Mr.Anand G Mahindra, Ms.Shikha Sharma, Mr.Haigreve Khaitan, Dr.Mukti Khaire, Mrs.M Rajyalakshmi Rao, Ms.Penelope Fowler, Mr.Manoj Bhat, Dr.Anish Shah, Mr.C P Gurnani, Mr.T N Manoharan. Company has B S R & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 97 Crore shares outstanding.

    Investment Rationale
    The brokerage remains on the sidelines on the IT stock as it feels the current valuations fairly factor in uncertainties around growth and margin.

    Promoter/FII Holdings
    Promoters held 35.19 per cent stake in the company as of 31-Dec-2022, while FIIs owned 27.95 per cent, DIIs 23.54 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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