External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<ul><li>Tech Mahindra: Tech Mahindra (TECHM) delivered in-line Q2FY23 performance, both on revenue and margin, with revenue growth of 2.9% QoQ CC and EBITM expansion of 40bps QoQ</li><li>Deal closures were soft due to the spillover of select deals into Q3, but importantly the outlook of USD 700mn to USD 1bn quarterly net new TCV was maintained</li><li>Key positives for TECHM were sequential improvement in FCF generation, operating performance (mitigating the wage hike impact) and line of sight for further improvement in margins, led by account pruning (BFSI &amp; RoW impact in Q2), pricing, utilisation and sub-con optimisation (lower in Q2)</li></ul><p><em>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.</em></p>

Tech Mahindra: Tech Mahindra (TECHM) delivered in-line Q2FY23 performance, both on revenue and margin, with revenue growth of 2.9% QoQ CC and EBITM expansion of 40bps QoQDeal closures were soft due to the spillover of select deals into Q3, but importantly the outlook of USD 700mn to USD 1bn quarterly net new TCV was maintainedKey positives for TECHM were sequential improvement in FCF generation, operating performance (mitigating the wage hike impact) and line of sight for further improvement in margins, led by account pruning (BFSI &amp; RoW impact in Q2), pricing, utilisation and sub-con optimisation (lower in Q2)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

Tech Mahindra - Slower Deal Velocity