India's Tech Mahindra falls after quarterly profit miss

Tech Mahindra

23/04/2026 05:14

** Shares of Indian IT services co Tech Mahindra TEML.NS fall 2.35% to 1428.20 rupees

** Co on Wednesday reported profit rise of 16% y/y, missing expectations; rev growth of 12.6% y/y beat expectations

** Jefferies ("underperform", PT 1225 rupees) says forex losses were key reason for profit miss; expects healthy deal wins to improve growth in FY27

** Dolat Capital ("reduce", PT 1500 rupees) highlights need to monitor delivery consistency considering demand headwinds, inconsistent execution track record

** BoB Capital ("hold", PT 1439 rupees) expects TEML's revenue growth to outperform peers but is cautious around IT overall due to AI disruption

** TEML rated "hold" on avg by 41 analysts; median PT is 1605 rupees - LSEG data

** Stock down 10.2% YTD

(Reporting by Abhirami G in Bengaluru)

((abhirami.g@thomsonreuters.com))