Tech Mahindra's new announcements for its products and platforms business has not impressed analysts.
The management aims to create value through mergers and acquisitions, synergies from portfolio companies, and joint ventures,” Nomura said in its report.
Also Read: Decisions delayed but clients not asking for price cuts: Tech Mahindra CEO CP Gurnani CLSA has given Tech Mahindra an Underperform rating with a target of Rs 1,100 per share.
This is what is keeping CLSA analysts at bay.
Meanwhile, domestic brokerage firm ICICI Securities has downgraded the stock from Hold to Reduce, with target price of Rs 1086 apiece.
In Q3 FY23, Tech Mahindra reported a consolidated net profit of Rs 1,297 crore, down 5.3 percent year-on-year.

Source - Money Control