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HDFC Securities Institutional Equities
Tech Mahindra, Angel One, Wipro and Piramal Finance remained in focus after HDFC Securities reviewed their June-quarter earnings and revised target prices for select stocks while maintaining its existing ratings.
Among the four stocks, Tech Mahindra emerged as a key positive. The brokerage highlighted the IT major's stronger-than-expected Q1 FY27 performance, with revenue growth of 2.6% QoQ in constant currency terms and Ebit margin expansion to 14.4%.
HDFC Securities raised its earnings estimates by 4-5% and increased its target price to Rs 1,650 from Rs 1,500, while maintaining an Add rating. The brokerage cited strong deal wins, improving growth visibility, margin discipline and continued momentum from its transformation initiatives.
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