'Buy' Tech Mahindra Shares Maintains Motilal Oswal Post Q1 Results; Sees Upto 24% Upside

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Motilal Oswal Report

We remain positive about the restructuring at Tech Mahindra Ltd. under the new leadership. But we expect the impact from these steps to be visible gradually.

With the communications vertical turning net positive, continued strength in banking, financial services and insurance, and improving operational efficiency, we see room for continued margin improvement ahead.

We value Tech Mahindra at 25 times FY27E earnings per share with a target price of Rs 2,000 (24% upside).

We reiterate our Buy rating on the stock.

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