India's Tech Mahindra rises on higher quarterly profit

Tech Mahindra

19/01/2026 04:08

**Shares of Tech Mahindra TEML.NS up 3.3% at 1,725.5 rupees

** India's fifth-largest IT firm posted bigger-than-expected third-quarter revenue; rose 8.3% to 143.93 billion rupees ($1.59 billion)

** ICICI Securities ("Hold"; PT: 1,600 rupees) says growth was better in a seasonally soft quarter and in the context of muted revenue growth for past several quarters

** BOB Capital Markets ("Hold"; PT: 1,783 rupees) says faster growth in top accounts (>$20 mln TTM revenue) vs the company average is viewed as a structural strength

** Systematix ("Sell"; PT: 1,367 rupees) says communications vertical continues to be a key growth driver on market share gains and TECHM's full-stack capabilities, with consolidation opportunities in Europe and Asia and improving U.S. sentiment

** Stock rated as "Hold" on average by 41 analysts; median PT at 1,707 rupees - data compiled by LSEG

** Stock is top gainer on Nifty IT index

** Stock fell 6.8% in 2025 vs Nifty IT index .NIFTYIT fell 12.6% in 2025

($1 = 90.6663 Indian rupees)

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))