Tech Mahindra Limited (TECHM.NS)
| Previous close | 1,190.30 |
| Open | 1,250.00 |
| Bid | 0.00 x 0 |
| Ask | 0.00 x 0 |
| Day's range | 1,241.00 - 1,347.00 |
| 52-week range | 1,020.40 - 1,416.30 |
| Volume | |
| Avg. volume | 2,181,766 |
| Market cap | 1.249T |
| Beta (5Y monthly) | 0.57 |
| PE ratio (TTM) | 48.07 |
| EPS (TTM) | 26.60 |
| Earnings date | 24 July 2024 - 29 July 2024 |
| Forward dividend & yield | 72.00 (5.63%) |
| Ex-dividend date | 18 July 2024 |
| 1y target est | 1,280.72 |
ReutersIndian IT firm Tech Mahindra's shares jump most in 8 years on turnaround plan
Tech Mahindra shares jumped 13.2% on Friday, their biggest intraday gain in nearly eight years, after India's No.5 IT company announced a turnaround plan that offered succour following declining revenue growth for the past three quarters. Including the day's move, Tech Mahindra is up 2% so far this year compared with a 4% fall in the IT index. Larger rival Infosys was down 6.8%, while Tata Consultancy Services was up 2.2%.
- Reuters
Tech companies plug into India's smaller cities for talent
Indian engineer B. Ramachandran now prefers living in the smaller cities than the major tech hubs of Bengaluru and Chennai. Some are already finding it easier to hire staff in tier 2 cities, in contrast to before the pandemic when workers largely went from smaller cities into the country's major IT hubs for jobs. "The HR and I used to drive down to Bengaluru and Chennai to interview experienced talent and convince them to move to Madurai," said Selvaganesh M.P, founder of IT firm SMI that was bought by mid-cap IT company Happiest Minds in 2023.
ReutersIndia's Tech Mahindra misses Q3 profit view on muted spending in key segments
MUMBAI/BENGALURU (Reuters) -India's Tech Mahindra posted a 60.6% drop in third-quarter net profit on Wednesday, missing estimates as clients continued to hold back spending in communications and banking segments. The fifth-largest Indian IT services company's net profit fell to 5.10 billion rupees ($61.36 million) for the three months ended Dec. 31, 2023, from 12.97 billion rupees a year earlier. Analysts, on average, expected a profit of 6.17 billion rupees, according to LSEG data.
