Business

Tech Mahindra stock hits a record high

Mumbai: Shares of hit a document excessive on Friday after the corporate surpassed consensus estimate on each income and margins regardless of seasonal headwinds. Brokerages elevating goal worth additionally lifted the inventory.

Shares of Tech Mahindra ended up 7.24 per cent at Rs 1,209.45 after hitting a document excessive of Rs 1,237 throughout the day.

CLSA, Antique, Edelweiss, HDFC Securities and Emkay Global retained purchase rankings.

Elevating estimates by 3 per cent for the continuing and subsequent monetary 12 months, CLSA mentioned the chance reward for Tech Mahindra is beneficial given a comparatively cheap valuation.

“We imagine its robust 1Q22 beat and sustained development outlook might push up the inventory’s valuation that at 17 occasions 12-month ahead EPS is at a 40 per cent low cost to Infosys (versus 5-year median of 21 per cent),” mentioned CLSA, elevating goal worth to Rs 1,380 from Rs 1,300.

Vintage raised goal worth to Rs 1,550 from Rs 1,200, Edelweiss raised it to Rs 1,620 from Rs 1,450 and Emkay World raised it to Rs 1,480 from Rs 1,410.

https://economictimes.indiatimes.com/markets/shares/information/tech-mahindra-stock-hits-a-record-high/articleshow/84904945.cms | Tech Mahindra inventory hits a document excessive

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