Narendra Modi's Washington test

Narendra Modi's Washington test

If Modi gets the world’s biggest power right, his pursuit of larger global goals...
Small banks or banks for ‘small’ people?

Small banks or banks for ‘small’ people?

Unless appropriate sub-limits are imposed on loans, there is a serious...

Morgan Stanley resumes Tech Mahindra coverage, rates stock 'overweight'

Aug 30 2013, 15:30 IST
Comments 0
Morgan Stanley believes the TechMahindra's revenue growth over the next 2-3 years could surpass expectations. Morgan Stanley believes the TechMahindra's revenue growth over the next 2-3 years could surpass expectations.
SummaryThe bank believes the company's revenue growth over the next 2-3 years could surpass expectations.

Morgan Stanley resumed coverage of Tech Mahindra Ltd at "overweight" and a target price of Rs 1,650, saying shares remain undervalued and a re-rating can continue.

The bank said it believed the company's revenue growth over the next 2-3 years could surpass its and consensus expectations.

It highlighted margin surprise, acquisition of treasury shares, acquiring other Mahindra group IT companies and higher dividend payout as key to further re-rating.

Tech Mahindra shares were up 3.55 per cent at 3 pm.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...