TECH MAHINDRA (TECHM)
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Nifty IT surges 14% in six days as Q2 earnings lift TechM, Wipro, TCS
Nifty IT has rallied 14% over six sessions, driven by strong Q2 earnings from major constituents including Tech Mahindra, Wipro, and TCS. The sector added roughly Rs 2.6 lakh crore in market value this week, reversing its earlier status as the worst-performing sector. Momentum has shifted decisively from worst to best performer as investors reward earnings beats across the pack.
Tech Mahindra shares climb 5% as analysts lift Q2 earnings estimates
Tech Mahindra shares gained as much as 5% after its Q2 results beat expectations, with the stock emerging as the only largecap IT name with positive year-to-date returns. Analysts responded by raising earnings estimates and price targets, citing the strong quarterly performance. The rally has outpaced the broader IT pack, with the stock up around 4-5% in intraday trade.
Tech Mahindra Q2 profit jumps 33% to ₹1,586 crore, declares 1:1 bonus and ₹15 dividend
Tech Mahindra reported a 33% year-on-year jump in Q2 net profit to ₹1,586 crore, with margins moving closer to its 15% target. The board approved a 1:1 bonus issue and an interim dividend of ₹15 per share, with a record date to be announced. The stock is among those to watch on October 16, alongside other Q2 results from Wipro, Reliance Industries, and Jio Financial.
Banks set to report Q1 results
Major banks are about to release their first quarter earnings, with investors looking for signs of margin improvements and leadership changes.
Tech Mahindra Q1 profits surge 28%
Tech Mahindra reported a significant increase in net profit by 28% to Rs 1,465 crore for the first quarter. Revenue growth was also notable with an 18% rise.
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