The market could not make a clear assessment of Tech Mahindra with the stock swinging wildly in the last two sessions. The results on Thursday were expected to be weak but the stock dropped slightly. However, on Friday, investors reviewed the three-year turnaround plan and decided the stock had been oversold and the price recovered 7.5 per cent. Net-net, the stock is up 7.7 per cent in the last two sessions.
Tech Mahindra reported Q4FY24 revenue of $1.48 billion, down 0.8 per cent (at constant currency). The Communications Media & Entertainment vertical was weak and declined 2.8 per cent quarter-on-quarter (Q-o-Q).
First Published: Apr 26 2024 | 9:34 PM IST
