Tech Mahindra Shares Downgraded To 'Sell' By Dolat Capital Post Mixed Q1 Results

Tech Mahindra's Q1 FY26 results were a miss on a constant currency basis but largely in-line on USD/INR basis. Commentary suggests positive momentum in Telco and BFS, but weakness was evident in Hi-Tech (semicon), and Manufacturing (Auto), suggesting lack of broad recovery. Hence, Revenue estimates lowered by 1%/1.6%. Operating profit margin estimates largely unchanged as margin aspirations (15% by end of FY27) will be a tough ask on...