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Tech Mahindra shares fall 5% on weak Q1 numbers; brokerages cut target price

Updated : July 31, 2019 10:22 AM IST

Shares of Tech Mahindra fell nearly 5 percent after it reported a 15.3 percent fall in its June quarter net profit at Rs 959 crore.
EBIT (earnings before interest and tax) margins also contracted 431 basis points at 11.5 percent QoQ.
Brokerages remained bullish on the stock but cut their target price on below-estimate earnings.
Tech Mahindra shares fall 5% on weak Q1 numbers; brokerages cut target price
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