External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>In Q2FY24, Tech Mahindra Ltd. (Tech M) reported revenue of Rs 12,869 Cr, down 2.2% on a QoQ basis.</li><li>While it posted a de-growth of 5.9% on a YoY basis (in CC terms), it stood below our expectations.</li><li>The company posted an operating profit of Rs 606 Cr, reporting a de-growth of 31.9% on a QoQ basis. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In Q2FY24, Tech Mahindra Ltd. (Tech M) reported revenue of Rs 12,869 Cr, down 2.2% on a QoQ basis.While it posted a de-growth of 5.9% on a YoY basis (in CC terms), it stood below our expectations.The company posted an operating profit of Rs 606 Cr, reporting a de-growth of 31.9% on a QoQ basis. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tech Mahindra Lt - Results Miss Expectations; Outlook Remains Weak

<ul><li>In Q1FY24, Tech Mahindra Ltd (Tech M) reported revenue of Rs 13,159 Cr, down 4.1% on a QoQ basis.</li><li>While it posted a growth of 3.5% on a YoY basis (in CC terms), it stood below our expectations.</li><li>The company posted an operating profit of Rs 891 Cr, reporting a de-growth of 41.8% on a QoQ basis. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In Q1FY24, Tech Mahindra Ltd (Tech M) reported revenue of Rs 13,159 Cr, down 4.1% on a QoQ basis.While it posted a growth of 3.5% on a YoY basis (in CC terms), it stood below our expectations.The company posted an operating profit of Rs 891 Cr, reporting a de-growth of 41.8% on a QoQ basis. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tech Mahindra Ltd. - Results Miss Expectations

<ul><li>In Q4FY23, Tech Mahindra Ltd (Tech M) reported revenue of Rs 13,718 Cr, which remained flat on a QoQ basis.</li><li>While it posted a growth of 3.7% on a YoY basis (in CC terms), it stood below our expectations.</li><li>The company posted an operating profit of Rs 1,530 Cr, reporting a de-growth of 5.7% on a QoQ basis.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In Q4FY23, Tech Mahindra Ltd (Tech M) reported revenue of Rs 13,718 Cr, which remained flat on a QoQ basis.While it posted a growth of 3.7% on a YoY basis (in CC terms), it stood below our expectations.The company posted an operating profit of Rs 1,530 Cr, reporting a de-growth of 5.7% on a QoQ basis.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tech Mahindra - Miss Expectations; Weaker Outlook

<ul><li>Accenture reported robust Q2FY23 numbers which stood above street expectations.</li><li>Revenue for the quarter stood at $15.8 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of slowdown and increasing interest rates.</li><li>Beating the street expectation of revenue growth, the company’s operating margins also improved by 10bps to 13.8%.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Accenture reported robust Q2FY23 numbers which stood above street expectations.Revenue for the quarter stood at $15.8 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of slowdown and increasing interest rates.Beating the street expectation of revenue growth, the company’s operating margins also improved by 10bps to 13.8%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Accenture - Results Beat Expectations Albeit with Lower Guidance

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>We attended Tech Mahindra’s (TECHM) investor day, where the company reiterated its strategy with some added elements</li><li>There’s an apparent continuity in organic growth focus (vs acquisition playbook earlier) with less than three quarters remaining for CEO transition</li><li>TECHM has trailed its peers historically in growth and operational performance</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We attended Tech Mahindra’s (TECHM) investor day, where the company reiterated its strategy with some added elementsThere’s an apparent continuity in organic growth focus (vs acquisition playbook earlier) with less than three quarters remaining for CEO transitionTECHM has trailed its peers historically in growth and operational performanceContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tech Mahindra (Update): Catching up. Maintain ADD

India

Tech Mahindra Ltd. develops and markets computer software.  The Company markets software for telecommunications equipment manufacturers, telecom service providers, software vendors, and systems integrators.

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Tech Mahindra (TECHM IN)

Tech Mahindra Lt - Results Miss Expectations; Outlook Remains Weak

In Q2FY24, Tech Mahindra Ltd. (Tech M) reported revenue of Rs 12,869 Cr, down 2.2% on a QoQ basis. While it posted a de-growth of 5.9% on a YoY...

Axis Direct

Tech Mahindra Ltd. - Results Miss Expectations

In Q1FY24, Tech Mahindra Ltd (Tech M) reported revenue of Rs 13,159 Cr, down 4.1% on a QoQ basis. While it posted a growth of 3.5% on a YoY basis...

Axis Direct

Tech Mahindra - Miss Expectations; Weaker Outlook

While it posted a growth of 3.7% on a YoY basis (in CC terms), it stood below our expectations. The company posted an operating profit of Rs 1,530...

Axis Direct

Accenture - Results Beat Expectations Albeit with Lower Guidance

Revenue for the quarter stood at $15.8 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of...

Axis Direct

Tech Mahindra (Update): Catching up. Maintain ADD

There’s an apparent continuity in organic growth focus (vs acquisition playbook earlier) with less than three quarters remaining for CEO transition

HDFC Securities

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