Clsa Raises Tp On India's Tech Mahindra After Fourth: quarter revenue beat

Tech Mahindra

24/04/2026 08:06

** Brokerage CLSA lifts TP on Tech Mahindra's TEML.NS shares to 1,598 rupees from 1,556 rupees, representing a 12.5% upside to the stock's last close

** Tech Mahindra on Thursday posts Q4 revenue above estimates; says it is confident of delivering growth in 2027

** Brokerage says the beat was driven by strong growth in telecom and tech verticals and financial services, along with several large client wins and high-value accounts added over the past two years

** Adds that a strong order book, higher revenue per employee and EBIT margins show little sign of AI-led pricing pressure at TEML, which it says is executing well under its current CEO

** Tech Mahindra shares were down 4.5% to 1,357 rupees in afternoon trading, they have fallen 14.7% so far in 2026

(Reporting by Abhinav Parmar)

((Abhinav.Parmar@thomsonreuters.com;))