12 stories mentioning NSE:TECHMUpdated 13d ago
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Tech Mahindra (NSE:TECHM, BOM:532755) has an average rating of overweight and mean price target of 1,545.41 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Tech Mahindra's (NSE:TECHM, BOM:532755) wholly owned subsidiary, Tech Mahindra London, extended the deadline to complete its acquisition of Midad's 20% stake in Tech Mahindra Arabia to Aug. 31, according to a Thursday filing with the Indian bourse.The extension was mutually agreed upon after certain conditions precedent to the transaction remained in progress.Tech Mahindra announced the deal in March after Midad exercised its put option to sell its 20% stake in Tech Mahindra Arabia.Shares of Tech Mahindra were up nearly 2% in recent trade.
Tech Mahindra (NSE:TECHM, BOM:532755) recorded a rise in its consolidated attributable profit to 14.7 billion Indian rupees in the fiscal first quarter ended June 30, against 11.4 billion rupees a year ago.Earnings per share climbed to 16.50 rupees from 12.86 rupees a year earlier, according to a post-market filing to the Indian stock exchanges by the technology services provider.Revenue from operations in fiscal Q1 jumped year over year to 157.1 billion rupees from 133.5 billion rupees.
Tech Mahindra (NSE:TECHM, BOM:532755) has an average rating of overweight and mean price target of 1,532.70 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Tech Mahindra (NSE:TECHM, BOM:532755) said its wholly-owned subsidiary, Tech Mahindra Servicos De Informatica, signed and executed a quota purchase agreement with Orange Business Services Brasil to acquire Alyis Serviços Técnicos LTDA for 1.2 million Brazilian real.The deal is part of a collaboration signed between Tech Mahindra and Orange Business to outsource certain global operations, including customer support, post-sale support and quote to bill, according to an Indian bourse filing on Wednesday.Upon deal completion, Alyis Serviços Técnicos will become a wholly-owned unit of Tech Mahindra Servicos De Informatica and a step-down subsidiary of Tech Mahindra.Tech Mahindra shares rose nearly 3% in recent trade.
Tech Mahindra (NSE:TECHM, BOM:532755) has an average rating of overweight and mean price target of 1,532.67 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Tech Mahindra's (NSE:TECHM, BOM:532755) step-down subsidiary, HCI Group Australia, has been voluntarily liquidated and deregistered with effect from May 27, according to a Tuesday filing to the Indian stock exchanges.The information was received by the Indian technology company on Tuesday.The company's shares were up over 2% in Wednesday.
Indian equities fell on Wednesday, as IT stocks lost steam, heightened tensions in the Middle East led to rising oil prices, and foreign institutional investor outflows weighed on sentiment.The BSE Sensex slipped 0.4%, or 303.67 points, to finish Wednesday's session at 74,346.17. Likewise, the NSE Nifty 50 tumbled 0.3%, or 77.95 points, to 23,405.60.Investor sentiment dampened as ongoing tensions between the U.S. and Iran led to an increase in oil prices, fueling energy-related pressures, according to a report by The Times of India.Additionally, many IT heavyweights, which had led Tuesday's rally, posted sharp declines.Among the top losers were Tata Consultancy Services (NSE:TCS, BOM:532540), Tech Mahindra (NSE:TECHM, BOM:532755), and HCL Technologies (NSE:HCLTECH, BOM:532281), which plunged over 8%, 6%, and 5%, respectively.Apollo Hospitals Enterprise (NSE:APOLLOHOSP, BOM:508869) led gainers for the day, posting a rise of nearly 3%. Tata Motors Passenger Vehicles (NSE:TMPV, BOM:500570) and InterGlobe Aviation (NSE:INDIGO, BOM:539448) were down around 2% each at the day's close.In corporate news, Bajel Projects (NSE:BAJEL, BOM:544042) bagged a mega engineering, procurement, and construction order for a GIS substation from a data center client in Mumbai. Shares closed 3% higher.Elsewhere, IndiGo, operated by InterGlobe Aviation, said it will discontinue flight operations to and from Manchester effective Aug. 31 amid prolonged airspace restrictions, longer flight times, and higher operating costs.
Tech Mahindra (NSE:TECHM) has an average rating of overweight and mean price target of 1,604.45 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Indian benchmark indices ended lower on Wednesday as a sharp decline in technology stocks and higher crude oil prices pressured the market.The BSE Sensex fell 756.84 points, or 1%, to close at 78,516.49, while the NSE Nifty 50 dropped 198.50 points, or 0.8%, to settle at 24,378.10.There was broad-based selling in IT stocks, as weaker-than-expected earnings startled investors, triggering a sharp pullback across the sector.Sentiment also remained cautious as markets awaited clarity on the next steps in U.S.-Iran negotiations. The U.S. announced an extension of the ceasefire to allow further talks, but the move appeared unilateral, with no immediate confirmation from Iran or Israel.Among stocks, HCL Technologies (NSE:HCLTECH, BOM:532281) plummeted nearly 11% after its March quarter results, released post-market hours on Tuesday, missed estimates despite a rise in profit and revenue.Tech Mahindra (NSE:TECHM, BOM:532755) fell nearly 3% after reporting an increase in fiscal Q4 profit to 13.5 billion rupees from 11.7 billion rupees a year earlier, with revenue also rising.
Tech Mahindra's (NSE:TECHM, BOM:532755) consolidated attributable profit rose to 13.5 billion Indian rupees in the fiscal fourth quarter ended March 31, from 11.7 billion rupees a year ago.The technology company's earnings per share came in 15.24 rupees from 13.15 rupees a year earlier, according to a Thursday filing to the Indian stock exchanges.Revenue from operations in fiscal Q4 also grew to 150.8 billion rupees from 133.8 billion rupees a year ago.The company's board recommended a final dividend of 36 rupees per equity share of the face value of 5 rupees each for the financial year ended March 31.The company's shares were down nearly 2% in recent trade.
