Tech Mahindra Q1 Results: Prabhudas Lilladher Downgrades To 'Reduce' From ‘Hold’
  • WebDesk BTVI
  • Jul 31 2019

Software services firm Tech Mahindra has reported a 6.8 per cent year-on-year rise in net profit to Rs 959.30 crore for the June quarter. Aniket Pande, Lead Analyst- IT and Telecom at Prabhudas Lilladher, said the brokerage has downgraded the firm to 'reduce' from 'hold' as slowing growth in enterprise, challenges in manufacturing and BFSI makes it cautious on the growth trajectory ahead. He also said that sustainability of telecom growth is questionable considering macro concerns. Here's more.