India's Tata Tech dips after Q1 profit fall

Tata Technologies

19/07/2024 08:43

** Shares of India's Tata Technologies  TATE.NS  slip as
much as ~2% to 990 rupees before trimming some losses 
    ** TATE eyes fourth straight session of losses, if trends
hold 
    ** Co's Q1 profit fell on declining services revenue, higher
expenses 
    ** Brokerage JM Financial says weak start to the fiscal
year, cuts TP on co to 1,250 rupees from 1,410 rupees
    ** However, adds soft qtr "aberration", "not trend"
    ** TATE, on an average, rated "hold" with median TP 900
rupees - LSEG data
    ** YTD stock has fallen 15.3% 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))