The average analyst price target on Tech Mahindra by Bloomberg after the third quarter results was at ₹1,302, implying a downside of 1.67% from Thursday s closing. Analysts said that the company s weaker performance indicates that turnaround would be tough in the near term, given the weak demand environment.
Tech Mahindra share price: The stock slipped 6.09 per cent to hit a day low of Rs 1,322 against a previous close of Rs 1,407.75. The counter, which scaled its one-year high level of Rs 1,416 a couple of days back, has risen around 28 per cent in the past one year.
Indus Tower has consistently been maintaining a bearish trend since 2021. The stock can be seen trading with a series of lower bottom formations on the weekly chart.
Revenue in dollar terms came in at $1,573 million, up 1.1 per cent sequentially (down 5.7 per cent) YoY. In the constant currency terms,. revenue was up 1.1 per cent QoQ but down 5.4 per cent YoY.