Tech Mahindra has posted a strong quarter. In an interview with CNBC-TV18, Ravi Menon of Elara shared his views and readings on the same as well as on some of its peer companies.
Tech Mahindra’s growth is led by BPO segment. its margin is significantly below largecap IT peers, he said.
We have been negative on Tech Mahindra and we continue to be negative but we have revised our price target upwards from Rs 440 per share to Rs 490 per share based on the significant cost restructuring that they have undertaken, he added.
He prefers HCL Technologies in the IT space, said Menon. – Money Control