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

Motilal Oswal reiterates Buy on Tech Mahindra with a target price of Rs 2,000 implying 24% upside, based on 25x FY27E EPS.

Tech Mahindra
Tech Mahindra reported Q1 FY26 revenue of $1.6 billion, down 1.4% QoQ in constant currency vs estimate of 1.0% cc decline.

 (Photo: company website)

Tech Mahindra's Q1 FY26 revenue missed estimates due to continued weakness in manufacturing and client specific issue in Hi-tech. However, the communications segment, which was a key overhang, is now net positive and should support revenue momentum going forward.
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