Tag Archives: Tech Mahindra

Sensex Gains 145 pts, Nifty above 18,300; Tata Consumer gains 2%


Sensex Today: Domestic equity markets opened higher on Thursday as global stocks surged after the US FOMC minutes indicated moderation in monetary policy tightening cycle. Key indices Nifty50 climbed over 40 points to trade above 18,300 levels and the S&P 500 rose over 100 points to trade at 61,647 levels.

Broader markets, too, followed a similar trend as Nifty SmallCap 100 and Nifty MidCap 100 surged up to 0.4 per cent. Volatility gauge, India VIX, meanwhile, declined over 4 per cent.

All sectors started trade on a positive note with Nifty Media, Nifty Auto, and Nifty PSU Bank indices leading the charge.

Among individual stocks, shares of HG Infra climbed over 3 per cent after the firm received appointed date letter from Adani Road Transport for road project in Uttar Pradesh.

Besides, shares of Fino Payments Bank soared over 8 per cent after investor Capri Global Holdings picked 1.58 per cent stake via open market transactions.

Global Cues

Globally, the US markets rose overnight as growth stocks took the lead. Dow Jones, the S&P 500, and NASDAQ Composite indices climbed up to 1 per cent.

The strength spilled to markets in Asia-Pacific too, as key indices like Nikkei 225, the S&P 200, Topix, Kospi, and Hang Seng advanced up to 1 per cent.

On the commodities front, oil prices skid after G7 nations mulled price cap on Russian oil and higher US crude inventory data. Both Brent Crude and WTI slipped 0.2 per cent to $85 per barrel and $77 per barrel, respectively.

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Tech Mahindra to Consider Payment of Interim Dividend Soon; Key Details Investors Must Know


Tech Mahindra Interim Dividend: IT services and consultancy firm Tech Mahindra informed on Saturday that the company’s board of directors will consider the proposal for payment of interim dividend for the financial year 2022-23 in the meeting to be held on October 31 and November 1, 2022. The board will also meet to consider and approve the financial performance for the second quarter ending September 30, 2022 (Q2 FY23) of the current fiscal.

“We would like to inform that the Board of Directors will also consider a proposal for payment of interim dividend for the financial year 2022-23, at its meeting scheduled on 31 October & 1 November, 2022. The payment of Interim Dividend will be considered by the Board on 1 November, 2022,” Tech Mahindra informed in an exchange filing last week.

It is worth noting that the payment of the Interim Dividend will be considered by the Board on 1 November, 2022. Further pursuant to Regulation 42(2) the Company has fixed 10 November, 2022, as the record date for determining the members entitled to receive the Interim dividend, if approved by the Board.

Stock Price History

The last trading price of Tech Mahindra is Rs 1041 apiece. The stock’s 52-week high is Rs 1837 apiece and 52-week low is Rs 944 apiece, respectively. The large cap company has a market capitalisation of Rs 1,01,330.22 crore.

Financials

In the financial year 2022, Tech Mahindra paid a 900 per cent dividend to its shareholders. In Q1FY23, The company reported consolidated net sales of Rs 12,707.9 crore, up 24.6 per cent from the year-ago quarter’s net sales of Rs 10,197.6 crore. The company reported a net profit of Rs 1,147.5 crore for Q1FY23.

“We expect 0.4 per cent q-q USD revenue growth (2.0 per cent q-q in CC) on broad-based growth and a strong deal pipeline for Tech Mahindra. We model a 13bp q-q expansion in EBIT margin q-q at 11.2 per cent as wage hikes are offset by better utilisation, pricing benefits and more offshoring. Look out for: Impact on telecom and enterprise tech spending from macro headwinds; FY23 revenue and margin outlook; enterprise budgets; large deal wins; outlook on client investments in 5G; deal pipeline; cost-control initiatives,” said BNP Paribas in a note on Indian IT earnings’ preview.

In the past 12 months, Tech Mahindra Ltd. has declared an equity dividend amounting to Rs 45.00 per share. At the current share price, this results in a dividend yield of 4.16 per cent, as per data by Trendlyne.

Tech Mahindra’s peers Infosys, TCS, Wipro, Mindtree, and HCL Tech have already announced their Q2 results earlier this month which has been a mixed bag.

Tech Mahindra offers innovative and customer-centric digital experiences, enabling enterprises, associates and the society to Rise. It is a USD 6 billion organization with 158,000+ professionals across 90 countries helping 1262 global customers, including Fortune 500 companies. It is focused on leveraging next-generation technologies including 5G, Blockchain, Quantum Computing, Cybersecurity, Artificial Intelligence, and more, to enable end-to-end digital transformation for global customers, according to its official website.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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