Motilal Oswal maintains 'buy' on Tech Mahindra at ₹1,950 target
Business
Motilal Oswal is sticking with its "buy" call on Tech Mahindra, setting a target price of ₹1,950 per share.
This upbeat view follows Tech Mahindra's solid Q2 FY27 results, which showed 2.4% QoQ growth in constant currency.
The brokerage expects this momentum to carry through the rest of the year, making Tech Mahindra stand out among big IT players.
Tech Mahindra Q2 FY27 revenue $1.7bn
Tech Mahindra pulled in $1.7 billion in revenue for Q2 FY27, thanks to growth in retail, communication, and technology segments, even though others and manufacturing dipped a bit.
EBIT margin edged up to 14.8%, and adjusted profit came in at ₹16 billion (just shy of forecasts).
Motilal Oswal sees an 18% upside from here and continues to rate Tech Mahindra as one of its top large-cap IT picks.