External broker reports(aggregated public sources), Edelweiss Broking Limited

Edelweiss

Edelweiss Broking Limited is an Indian Financial services company based in Mumbai, India. The company is a subsidiary of Edelweiss Group. 

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External broker reports(aggregated public sources)

Edelweiss Broking Limited

Edelweiss Broking Limited is an Indian Financial services company based in Mumbai, India. The company is a subsidiary of Edelweiss Group. 

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>We maintain our ‘Tactical Buy’ call on Tech Mahindra and raise TP to INR2,050 by rolling over to FY24 earnings estimate (from TP of INR1,670 earlier, refer September-2021 note).</li><li>Our thesis of pick up in 5G deal momentum aid to already strong growth momentum in the Enterprise segment driven by digitization along with stable margins is playing out along expected lines.</li><li>The company indicated that ~20% of Communications business is now 5G based and is likely to increase further. We estimate FY22E, FY23E and FY24E EPS to be INR62, INR73 and INR82, respectively. We maintain our ‘Tactical Buy’ call and raise target price to INR2,050.</li></ul><div class="content-highlight"><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></div>

We maintain our ‘Tactical Buy’ call on Tech Mahindra and raise TP to INR2,050 by rolling over to FY24 earnings estimate (from TP of INR1,670 earlier, refer September-2021 note).Our thesis of pick up in 5G deal momentum aid to already strong growth momentum in the Enterprise segment driven by digitization along with stable margins is playing out along expected lines.The company indicated that ~20% of Communications business is now 5G based and is likely to increase further. We estimate FY22E, FY23E and FY24E EPS to be INR62, INR73 and INR82, respectively. We maintain our ‘Tactical Buy’ call and raise target price to INR2,050.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 Ltd | Company Update