Views of Ms. Sarabjit Kour Nangra (VP Research - IT, Angel Broking):
"Tech Mahindra for 1QFY2018 posted good set of numbers. The sales are came in at US$1,138mn V/s US$1,127mn expected and V/s US$1,131mn in 4QFY2017, a QoQ growth of 0.6%. In Rupee terms, the sales are came in at INR 7,336cr V/s INR 7,262cr expected v/s INR 7,495cr in 4QFY2017, posted a QoQ dip of 2.1%. The sales growth during the quarter was driven by the USA, which constituted 46.8% of sales in 1QFY2018 v/s 45.1% in 4QFY2017, while ROW dipped to 23.4% of sales in 1QFY2018 V/s 25.3% of sales in 4QFY2017. On operating front, the EBIT margins came in at 9.4% V/s 8.6% expected V/s 8.2% in 4QFY2017, a QoQ expansion of 117bps, mainly on back of base effect. Consequently, the PAT came in at INR 798cr V/s INR 624cr expected V/s INR 588cr in 4QFY2017, a QoQ growth of 35.8%. We maintain our BUY rating on the stock, with a price target of INR 533."
Shares of TECH MAHINDRA LTD. was last trading in BSE at Rs.407.1 as compared to the previous close of Rs. 401.9. The total number of shares traded during the day was 314251 in over 3921 trades.
The stock hit an intraday high of Rs. 408.2 and intraday low of 400.8. The net turnover during the day was Rs. 127393173.