Citi has issued a “Sell” rating on Tech Mahindra, setting a target price of ₹1,260 per share. The brokerage notes that growth remains challenging in the current environment, with the BFSI (Banking, Financial Services, and Insurance) sector showing slow and gradual improvement.
Tech Mahindra is implementing 10-15 initiatives aimed at driving margin improvement, focusing initially on cost management and pyramid optimization. Some of the gains in margins are expected to be reinvested back into the business. Additionally, the company will review wage hikes in October.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
