Tech Mahindra to Declare First Quarter Results Today
Indian IT company Tech Mahindra will declare it first quarter results today. This quarterly result will be important for the company as it is the first performance report of the company after it merged with Satyam Computers. Depending on the performance of the company, the stock could see re-rating by technical experts.
After the merger in July 2013, Tech Mahindra stock has been hovering around its 52-week high. The combined entity will make first largest IT services company in India. Tech Mahindra stock has been trading at attractive levels and many foreign funds have added to their holdings in the last two quarters.
Tech Mahindra was facing tough times with margins in some of its verticals. Market experts are expecting the company to perform better in Non-British Telecom dependent segment. However, Satyam Computers was doing fairly well in its quarterly results. The combined entity's quarterly performance will determine the direction of the stock in coming days.
Almost all major technology companies in India have declared good quarterly results. HCL Tech and TCS have been performing exceptionally well and have rewarded stock market investors with very good returns. Infosys has been struggling and the stock has taken a beating on the bourses as well.
In today's trade, Tech Mahindra has touched 52-week high of Rs 1292. The stock has done good volumes. The company is expected to declare the results during market hours.
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