# TECHM (TECHM) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/techm

## Current market snapshot

- Exchange: BSE
- Country: India
- Price: ₹1,543.5
- Change: +4.93%
- As of: 2026-10-13
- 1D return: +4.93%
- 5D return: +2.59%
- 1M return: +0.16%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-10-12_

### Technical Outlook

As of October 12, 2026, the stock is exhibiting a bearish technical setup across daily and monthly timeframes, with a conflicting bullish signal on the weekly chart. Daily and monthly trends are characterized by prices trading below key moving averages and the Supertrend indicator, with weak trend conviction indicated by ADX values of 13.75 and 12.38, respectively. The weekly timeframe, however, shows price above the Supertrend, though trend conviction remains weak with an ADX of 11.71. Recent market activity on October 12, 2026, included a moderate downward price move of -2.8% accompanied by a volume ratio of 2.16 on the daily timeframe, suggesting increased selling pressure. The stock is positioned near the lower end of its trading range across 20-day, 50-day, and 252-day periods, with a current drawdown of -16.8% and maximum drawdown of -26.3%.

The stock's risk profile includes annualized volatility of +26.9% and an Average True Range (ATR) of 2.81%. Nearby resistance is observed at ₹1475.23 (0.29% above current price), with further resistance at ₹1492.70 (1.48% above). Support is located at ₹1454.27 (1.14% below current price), followed by ₹1414.32 (3.85% below). The current setup would be confirmed by a sustained move below the support level at ₹1454.27, while a break above the nearest resistance at ₹1475.23, especially with increased volume, could signal a potential shift in short-term sentiment.

- Bearish technical setup on daily and monthly charts, with a conflicting bullish signal on the weekly chart.
- Weak trend conviction across all timeframes (ADX below 15), with prices below key moving averages and Supertrend on daily/monthly.
- Moderate downward price move of -2.8% on October 12, 2026, with elevated daily volume (ratio 2.16).
- Nearest resistance at ₹1475.23 (0.29% above) and support at ₹1454.27 (1.14% below).
- Setup confirmed by a sustained break below ₹1454.27 support; invalidated by a move above ₹1475.23 resistance.

- Evening Star
- Outside Bar
- Morning Star
- Doji
- Harami

### News Context

Tech Mahindra's share price experienced a decline of up to 4% in the week leading up to October 12, 2026, ahead of its board meeting to consider the second-quarter (Q2) results and a potential bonus issue. This price movement occurred amidst broader sector activity, with peer companies like TCS, Infosys, and Wipro seeing share price increases and the Nifty IT index rising 2% on October 9. Analysts noted a general recovery in Indian IT stocks, with TCS reporting a sequential revenue increase of 0.5% in constant currency terms for its Q2 FY27 results. However, a report on October 9 suggested the Indian IT sector could face a fourth year of weak growth due to geopolitical factors and Artificial Intelligence (AI) risks. Tech Mahindra's historical dividend payouts include interim dividends of ₹15 in October 2025 and 2024, and final dividends of ₹30 in 2025, ₹28 in 2024, and ₹32 in 2023.

- Tech Mahindra shares fell up to 4% on October 12, 2026, ahead of Q2 results and a board meeting to consider bonus issuance.
- The company's Q2 results were scheduled for consideration by the board in the week of October 12, 2026.
- Tech Mahindra has paid dividends totaling ₹168 over the last three years, including ₹15 interim dividends in October 2025 and 2024.
- On October 9, 2026, the Nifty IT index rose 2%, with TCS, Infosys, and Wipro shares also seeing gains.
- A report on October 9, 2026, indicated potential for a fourth year of weak growth in the Indian IT sector due to geopolitical and AI risks.

- [Tech Mahindra shares fall up to 4% ahead of Q2 results this week: Here's why](https://www.moneycontrol.com/news/business/markets/tech-mahindra-shares-fall-up-to-4-ahead-of-q2-results-this-week-here-s-why-14050077.html)
- [Tech Mahindra shares fall ahead of board meet to consider Q2 results, bonus](https://www.cnbctv18.com/market/tech-mahindra-share-price-fall-board-meet-q2-results-bonus-issue-date-history-buyback-stock-split-20009705.htm)
- [TCS, Infosys, Wipro shares jump; Nifty IT rises 2%; what analysts say](https://www.businesstoday.in/markets/stocks/story/tcs-infosys-wipro-shares-jump-nifty-it-rises-2-what-analysts-say-560604-2026-10-09)
- [India IT set for fourth year of weak growth on geopolitics, AI risks | Mint](https://www.livemint.com/industry/infotech/ai-impact-on-it-sector-quarterly-results-11791520593653.html)
- [TCS shares rally 5%; top 5 IT stocks add Rs 56,000 cr in m-cap, shrug off H-1B visa suspension](https://www.businesstoday.in/markets/stocks/story/tcs-shares-rally-5-top-5-it-stocks-add-rs-56000-cr-in-m-cap-shrug-off-h-1b-visa-suspension-560559-2026-10-09)

### What Changed

On October 9, 2026, Tech Mahindra Limited announced the liquidation of its step-down wholly-owned subsidiary, LCC Networks Poland Sp.z.o.o. This liquidation was voluntary and resulted in no financial consideration for Tech Mahindra, as the entity had zero turnover, revenue, income, and net worth in the previous year. The company stated this is a routine corporate restructuring with no financial impact. Separately, recent news reports from October 2026 indicate that Tech Mahindra's share price experienced a decline of up to 4% in anticipation of the company's second-quarter results and a board meeting to consider these results and a potential bonus issue. Over the past three years, the company has maintained a dividend payout history, including interim dividends of ₹15 in October 2025 and 2024, and final dividends of ₹30 in 2025, ₹28 in 2024, and ₹32 in 2023.

- On October 9, 2026, Tech Mahindra announced the liquidation of its step-down subsidiary LCC Networks Poland Sp.z.o.o, with no financial consideration or impact.
- News reports in October 2026 highlighted a share price fall of up to 4% for Tech Mahindra ahead of its Q2 results announcement.
- Tech Mahindra paid an interim dividend of ₹15 per share in October 2025 and ₹15 per share in October 2024.

- [Tech Mahindra shares fall up to 4% ahead of Q2 results this week: Here's why](https://www.moneycontrol.com/news/business/markets/tech-mahindra-shares-fall-up-to-4-ahead-of-q2-results-this-week-here-s-why-14050077.html)
- [Tech Mahindra shares fall ahead of board meet to consider Q2 results, bonus](https://www.cnbctv18.com/market/tech-mahindra-share-price-fall-board-meet-q2-results-bonus-issue-date-history-buyback-stock-split-20009705.htm)
- [Tech Mahindra Limited has informed the Exchange about Liquidation of step down subsidiary of the Company |SUBJECT: Sale or disposal](https://nsearchives.nseindia.com/corporate/Apekshakhemka_09102026222936_LiquidationIntimation-LCC_poland_S.pdf)
- [Tech Mahindra Limited has informed the Exchange regarding Sale or disposal of unit(s)/division(s)/subsidiary |SUBJECT: Sale or disposal-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2421_WebXMLFile_20261009_225504311.xml)
- [Tech Mahindra Limited has informed the Exchange about Liquidation of a stepdownsubsidiary of the Company |SUBJECT: Sale or disposal](https://nsearchives.nseindia.com/corporate/Apekshakhemka_09102026232520_LiquidationIntimation-LCC_poland_S.pdf)

### Official Filings

Tech Mahindra Limited has announced the voluntary liquidation of its step-down wholly-owned subsidiary, LCC Networks Poland Sp.z.o.o, effective October 9, 2026. The company stated that this liquidation resulted in no financial consideration, as the entity was dissolved via a liquidation order. The subsidiary reported zero turnover, revenue, income, and net worth in the previous year, indicating the event is immaterial to Tech Mahindra's overall financials. This action is described as a routine corporate restructuring without a buyer involved.

In other disclosures, Tech Mahindra submitted a certificate on October 7, 2026, confirming compliance with SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026. This certificate, issued by its Registrar and Transfer Agent, MUFG Intime India Private Limited, verifies the timely processing of securities for dematerialization.

Additionally, the company announced a Board of Directors meeting scheduled for October 15-16, 2026. The agenda includes considering and approving audited standalone and consolidated financial results for the second quarter and half-year ended September 30, 2026. The board will also review proposals for an interim dividend for FY 2026-27 and for issuing bonus shares. Consequently, the trading window for dealing in the company's securities was closed from September 24, 2026, and is set to reopen on October 18, 2026.

- On October 9, 2026, Tech Mahindra's step-down subsidiary, LCC Networks Poland Sp.z.o.o, was voluntarily liquidated with no financial consideration or sale agreement, deemed immaterial to the company's financials.
- A certificate confirming compliance with SEBI Regulation 74(5) for the quarter ended September 30, 2026, was submitted on October 7, 2026.
- A Board of Directors meeting is scheduled for October 15-16, 2026, to approve Q2 FY27 financial results, consider an interim dividend, and review a bonus share issuance proposal.
- The trading window for company securities was closed from September 24, 2026, and will reopen on October 18, 2026.

- [Tech Mahindra Limited has informed the Exchange about Liquidation of step down subsidiary of the Company |SUBJECT: Sale or disposal](https://nsearchives.nseindia.com/corporate/Apekshakhemka_09102026222936_LiquidationIntimation-LCC_poland_S.pdf)
- [Tech Mahindra Limited has informed the Exchange regarding Sale or disposal of unit(s)/division(s)/subsidiary |SUBJECT: Sale or disposal-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2421_WebXMLFile_20261009_225504311.xml)
- [Tech Mahindra Limited has informed the Exchange about Liquidation of a stepdownsubsidiary of the Company |SUBJECT: Sale or disposal](https://nsearchives.nseindia.com/corporate/Apekshakhemka_09102026232520_LiquidationIntimation-LCC_poland_S.pdf)
- [Tech Mahindra Limited has informed the Exchange about Certificate 74(5) under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/Apekshakhemka_07102026175315_Signed_SE_Certificate_under74_5__Q2.pdf)
- [Tech Mahindra Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/Apekshakhemka_02102026163828_Intimation_for_schedule_of_concall_S.pdf)
- [TECH MAHINDRA LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2421_WebXMLFile_20261002_164042982.xml)
- [Financial Results/Dividend/Bonus/Other business matters |Meeting Date: 15-Oct-2026](https://nsearchives.nseindia.com/corporate/Apekshakhemka_30092026172315_TML_BM_Prior_Intimation_TWC_Q2_FY27_S.pdf)
- [Tech Mahindra Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 |SUBJECT: Trading Window](https://nsearchives.nseindia.com/corporate/Apekshakhemka_30092026172455_TML_BM_Prior_Intimation_TWC_Q2_FY27_S.pdf)
- [TECH MAHINDRA LIMITED has informed the Exchange about Closure of Trading Window |SUBJECT: Trading Window-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_2421_WebXMLFile_20260930_172630403.xml)
- [Tech Mahindra Limited has informed the Exchange about Credit Rating |SUBJECT: Credit Rating](https://nsearchives.nseindia.com/corporate/Apekshakhemka_25092026204623_SEIntimationCreditRatings_S.pdf)

### Fundamentals

Tech Mahindra reported sequential growth in its top line for the first quarter of fiscal year 2026-27. Revenue from operations increased to ₹15,711.90 crore from ₹15,076.10 crore in the preceding quarter (Q4 FY2025-26). This revenue growth was accompanied by an increase in profit before exceptional items and tax, which rose to ₹2,046.20 crore from ₹1,790.70 crore in the prior quarter. However, the company saw a decrease in current tax expenses sequentially, while deferred tax expenses increased significantly. The net impact on profitability requires further examination of other income statement items not provided.

The most important checkpoint for the next reporting period will be the sustainability of this sequential revenue growth and the resulting impact on operating margins. Investors should monitor how the company's profit before tax converts into net profit, especially given the fluctuations in tax expenses.

- Revenue from operations increased sequentially to ₹15,711.90 crore in Q1 FY2026-27.
- Profit before exceptional items and tax rose sequentially to ₹2,046.20 crore.
- Current tax expenses decreased sequentially to ₹425.60 crore, while deferred tax increased to ₹130 crore.
- Monitor revenue growth sustainability and net profit conversion in the next quarter.

### Bull Case

The company's weekly technical trend indicates a bullish direction, supported by a positive Simple Moving Average (SMA) 20 slope of 19.51 and SMA 50 slope of 8.39. This suggests a potential upward momentum on a shorter-term basis. Additionally, the company has a history of dividend payouts, with interim dividends of ₹15 paid in October 2025 and 2024, and final dividends of ₹30 in 2025, ₹28 in 2024, and ₹32 in 2023. The latest closing price on October 12, 2026, was ₹1471.0.

- Weekly technical trend shows a bullish direction.
- Positive SMA 20 slope of 19.51 and SMA 50 slope of 8.39 observed on weekly timeframe.
- Interim dividends of ₹15 were paid in October 2025 and 2024.
- Final dividends of ₹30, ₹28, and ₹32 were paid in 2025, 2024, and 2023 respectively.

- [Tech Mahindra shares fall up to 4% ahead of Q2 results this week: Here's why](https://www.moneycontrol.com/news/business/markets/tech-mahindra-shares-fall-up-to-4-ahead-of-q2-results-this-week-here-s-why-14050077.html)
- [Tech Mahindra shares fall ahead of board meet to consider Q2 results, bonus](https://www.cnbctv18.com/market/tech-mahindra-share-price-fall-board-meet-q2-results-bonus-issue-date-history-buyback-stock-split-20009705.htm)
- [TCS, Infosys, Wipro shares jump; Nifty IT rises 2%; what analysts say](https://www.businesstoday.in/markets/stocks/story/tcs-infosys-wipro-shares-jump-nifty-it-rises-2-what-analysts-say-560604-2026-10-09)
- [India IT set for fourth year of weak growth on geopolitics, AI risks | Mint](https://www.livemint.com/industry/infotech/ai-impact-on-it-sector-quarterly-results-11791520593653.html)
- [TCS shares rally 5%; top 5 IT stocks add Rs 56,000 cr in m-cap, shrug off H-1B visa suspension](https://www.businesstoday.in/markets/stocks/story/tcs-shares-rally-5-top-5-it-stocks-add-rs-56000-cr-in-m-cap-shrug-off-h-1b-visa-suspension-560559-2026-10-09)
- [Tech Mahindra Limited has informed the Exchange about Liquidation of step down subsidiary of the Company |SUBJECT: Sale or disposal](https://nsearchives.nseindia.com/corporate/Apekshakhemka_09102026222936_LiquidationIntimation-LCC_poland_S.pdf)
- [Tech Mahindra Limited has informed the Exchange regarding Sale or disposal of unit(s)/division(s)/subsidiary |SUBJECT: Sale or disposal-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2421_WebXMLFile_20261009_225504311.xml)
- [Tech Mahindra Limited has informed the Exchange about Liquidation of a stepdownsubsidiary of the Company |SUBJECT: Sale or disposal](https://nsearchives.nseindia.com/corporate/Apekshakhemka_09102026232520_LiquidationIntimation-LCC_poland_S.pdf)
- [Tech Mahindra Limited has informed the Exchange about Certificate 74(5) under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/Apekshakhemka_07102026175315_Signed_SE_Certificate_under74_5__Q2.pdf)
- [Tech Mahindra Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/Apekshakhemka_02102026163828_Intimation_for_schedule_of_concall_S.pdf)

### Bear Case

The company's technical indicators suggest a cautious outlook. The daily and monthly trends are characterized by a 'bearish' supertrend direction, with negative slopes observed in both 20-day and 50-day Simple Moving Averages (SMA) over a 5-day period. This is further supported by a negative 20-day Exponential Moving Average (EMA) slope over 5 days. The company has experienced a year-to-date return of -8.5% and a return since the start of -13.7%. Recent news indicates share price declines ahead of quarterly results, with one report highlighting that India's IT sector is bracing for a fourth year of weak growth, citing geopolitical and AI-related risks. Tech Mahindra is noted as one of the companies set to report quarterly results following a sequential revenue increase of only 0.5% for TCS in constant currency terms.

- Daily and monthly technical trends are in a 'bearish' direction.
- Year-to-date return stands at -8.5%, with a return since inception of -13.7%.
- Share prices have seen declines leading up to quarterly results announcements.
- Industry-wide concerns include potential weak growth due to geopolitical and AI risks.

- [Tech Mahindra shares fall up to 4% ahead of Q2 results this week: Here's why](https://www.moneycontrol.com/news/business/markets/tech-mahindra-shares-fall-up-to-4-ahead-of-q2-results-this-week-here-s-why-14050077.html)
- [Tech Mahindra shares fall ahead of board meet to consider Q2 results, bonus](https://www.cnbctv18.com/market/tech-mahindra-share-price-fall-board-meet-q2-results-bonus-issue-date-history-buyback-stock-split-20009705.htm)
- [TCS, Infosys, Wipro shares jump; Nifty IT rises 2%; what analysts say](https://www.businesstoday.in/markets/stocks/story/tcs-infosys-wipro-shares-jump-nifty-it-rises-2-what-analysts-say-560604-2026-10-09)
- [India IT set for fourth year of weak growth on geopolitics, AI risks | Mint](https://www.livemint.com/industry/infotech/ai-impact-on-it-sector-quarterly-results-11791520593653.html)
- [TCS shares rally 5%; top 5 IT stocks add Rs 56,000 cr in m-cap, shrug off H-1B visa suspension](https://www.businesstoday.in/markets/stocks/story/tcs-shares-rally-5-top-5-it-stocks-add-rs-56000-cr-in-m-cap-shrug-off-h-1b-visa-suspension-560559-2026-10-09)
- [Tech Mahindra Limited has informed the Exchange about Liquidation of step down subsidiary of the Company |SUBJECT: Sale or disposal](https://nsearchives.nseindia.com/corporate/Apekshakhemka_09102026222936_LiquidationIntimation-LCC_poland_S.pdf)
- [Tech Mahindra Limited has informed the Exchange regarding Sale or disposal of unit(s)/division(s)/subsidiary |SUBJECT: Sale or disposal-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2421_WebXMLFile_20261009_225504311.xml)
- [Tech Mahindra Limited has informed the Exchange about Liquidation of a stepdownsubsidiary of the Company |SUBJECT: Sale or disposal](https://nsearchives.nseindia.com/corporate/Apekshakhemka_09102026232520_LiquidationIntimation-LCC_poland_S.pdf)
- [Tech Mahindra Limited has informed the Exchange about Certificate 74(5) under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/Apekshakhemka_07102026175315_Signed_SE_Certificate_under74_5__Q2.pdf)
- [Tech Mahindra Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/Apekshakhemka_02102026163828_Intimation_for_schedule_of_concall_S.pdf)

### FAQs

**What has been Tech Mahindra's recent dividend history?**

Over the last three years, Tech Mahindra has paid dividends totaling ₹168 per share. This includes interim dividends of ₹15 in October 2025 and ₹15 in October 2024, and final dividends of ₹30 in 2025, ₹28 in 2024, and ₹32 in 2023.

**What is the current technical trend for Tech Mahindra shares?**

As of October 12, 2026, the daily trend for Tech Mahindra indicates a 'bearish' SuperTrend direction, with a negative EMA 20 slope of -21.93 and SMA 20 slope of -13.84. The weekly trend, however, shows a 'bullish' SuperTrend direction, with a positive SMA 20 slope of 19.51 and SMA 50 slope of 8.39.

**What recent corporate actions has Tech Mahindra undertaken regarding its subsidiaries?**

On October 9, 2026, Tech Mahindra informed the exchange about the voluntary liquidation of its step-down wholly-owned subsidiary, LCC Networks Poland Sp.z.o.o. This liquidation resulted in no financial consideration and was deemed immaterial to the company's financials as the subsidiary reported zero turnover, revenue, income, and net worth in the previous year. This is described as a routine corporate restructuring.

**What are the nearest support and resistance levels for Tech Mahindra shares?**

As of October 12, 2026, the nearest resistance levels for Tech Mahindra are at ₹1475.23 (0.29% above current price), ₹1492.70 (1.48% above), ₹1494.67 (1.61% above), and ₹1505.56 (2.35% above). The nearest support levels are at ₹1454.27 (1.14% below current price), ₹1414.32 (3.85% below), ₹1391.97 (5.37% below), and ₹1365.09 (7.20% below).

- [Tech Mahindra shares fall up to 4% ahead of Q2 results this week: Here's why](https://www.moneycontrol.com/news/business/markets/tech-mahindra-shares-fall-up-to-4-ahead-of-q2-results-this-week-here-s-why-14050077.html)
- [Tech Mahindra shares fall ahead of board meet to consider Q2 results, bonus](https://www.cnbctv18.com/market/tech-mahindra-share-price-fall-board-meet-q2-results-bonus-issue-date-history-buyback-stock-split-20009705.htm)
- [TCS, Infosys, Wipro shares jump; Nifty IT rises 2%; what analysts say](https://www.businesstoday.in/markets/stocks/story/tcs-infosys-wipro-shares-jump-nifty-it-rises-2-what-analysts-say-560604-2026-10-09)
- [India IT set for fourth year of weak growth on geopolitics, AI risks | Mint](https://www.livemint.com/industry/infotech/ai-impact-on-it-sector-quarterly-results-11791520593653.html)
- [TCS shares rally 5%; top 5 IT stocks add Rs 56,000 cr in m-cap, shrug off H-1B visa suspension](https://www.businesstoday.in/markets/stocks/story/tcs-shares-rally-5-top-5-it-stocks-add-rs-56000-cr-in-m-cap-shrug-off-h-1b-visa-suspension-560559-2026-10-09)
- [Tech Mahindra Limited has informed the Exchange about Liquidation of step down subsidiary of the Company |SUBJECT: Sale or disposal](https://nsearchives.nseindia.com/corporate/Apekshakhemka_09102026222936_LiquidationIntimation-LCC_poland_S.pdf)
- [Tech Mahindra Limited has informed the Exchange regarding Sale or disposal of unit(s)/division(s)/subsidiary |SUBJECT: Sale or disposal-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2421_WebXMLFile_20261009_225504311.xml)
- [Tech Mahindra Limited has informed the Exchange about Liquidation of a stepdownsubsidiary of the Company |SUBJECT: Sale or disposal](https://nsearchives.nseindia.com/corporate/Apekshakhemka_09102026232520_LiquidationIntimation-LCC_poland_S.pdf)
- [Tech Mahindra Limited has informed the Exchange about Certificate 74(5) under SEBI (Depositories and Participants) Regulations, 2018 |SUBJECT: Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/Apekshakhemka_07102026175315_Signed_SE_Certificate_under74_5__Q2.pdf)
- [Tech Mahindra Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/Apekshakhemka_02102026163828_Intimation_for_schedule_of_concall_S.pdf)
## Technical analytics

- As of: 2026-10-13
- Daily trend: Weak Uptrend
- Weekly trend: Weak Uptrend
- Pivot point: ₹1,470.5
- Risk regime: Price Risk Currently Contained

### Support levels
- 1414.3210937499998
- 1391.975
- 1365.0874999999999

### Resistance levels
- 1562.725
- 1684.05
- 1727.512890625

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +4.93% |
| return_10 | +0.08% |
| return_1m | +0.16% |
| return_1y | +6.38% |
| return_20 | +0.16% |
| return_3m | +2.59% |
| return_5 | +2.59% |
| return_6m | +7.53% |
| return_since_start | -9.41% |
| return_ytd | -3.99% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | contained_risk |
| label | Price risk currently contained |
| summary | Recent drawdown and price variability remain within the producer's contained-risk thresholds. |
| maximum_drawdown | -26.30% |
| annualized_volatility | +27.14% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue and profit before tax increase; other income turns negative and finance costs rise

In the quarter ended 30 June 2026, Tech Mahindra Limited reported revenue of ₹15,711.9 crore, a sequential increase of 4.2% and a year-on-year increase of 17.7%. Profit before tax rose 14.3% sequentially and 26.5% year-on-year to ₹2,046.2 crore. The quarter included a negative other income of ₹106.4 crore and higher finance costs. Tax expense increased, partly reflecting a shift in deferred tax from a credit to a charge. Basic earnings per share was ₹16.53.

## Revenue

Revenue from operations was ₹15,711.9 crore, up 4.2% from ₹15,076.1 crore in the previous quarter and up 17.7% from ₹13,351.2 crore in the same quarter last year. The sequential growth rate of 4.2% was slightly lower than the 4.7% sequential growth recorded in the preceding quarter. Revenue has risen sequentially in each of the last five quarters.

## Profitability and Expenses

Total expenses increased to ₹13,559.3 crore, up 3.7% sequentially and 13.5% year-on-year. Because revenue grew faster than expenses, profit before tax expanded. Profit before tax (and before exceptional items) was ₹2,046.2 crore, compared with ₹1,790.7 crore in the previous quarter and ₹1,617.6 crore a year earlier. The profit before tax margin (profit before tax as a percentage of revenue) rose to 13.0% from 11.9% in the prior quarter and 12.1% in the year-ago quarter.

Exceptional items were nil in the current quarter. In the previous quarter, exceptional items were a loss of ₹0.01 crore, and in Q3 FY2025-26 they were a loss of ₹272.4 crore.

Employee benefit expense, the largest cost component, was ₹7,876.6 crore, representing 50.1% of revenue. Depreciation and amortisation expense was ₹478.6 crore.

## Finance Costs and Other Income

Finance costs rose to ₹111.3 crore, a sequential increase of 25.3% from ₹88.8 crore and a year-on-year increase of 43.1% from ₹77.8 crore.

Other income was negative ₹106.4 crore, which reduced profit before tax by that amount.

## Tax Expense

Total tax expense was ₹555.6 crore, up 28.0% sequentially from ₹434.2 crore and up 13.6% year-on-year from ₹489.3 crore. The effective tax rate (tax expense as a percentage of profit before tax) was 27.2%, compared with 24.2% in the previous quarter and 30.2% in the year-ago quarter.

The increase in total tax expense was accompanied by a shift in deferred tax from a credit of ₹18.9 crore in the previous quarter to a charge of ₹130.0 crore in the current quarter. Current tax decreased to ₹425.6 crore from ₹453.1 crore.

## Net Profit and Earnings Per Share

Profit after tax attributable to owners of the parent was ₹1,465.1 crore. Basic earnings per share rose to ₹16.53, up 8.3% sequentially from ₹15.27 and up 28.4% year-on-year from ₹12.87. Diluted earnings per share was ₹16.50. Paid-up equity share capital increased marginally to ₹442.9 crore, with a face value of ₹5 per share.

## Balance Sheet

Net segment assets stood at ₹50,390.9 crore, a sequential increase of 2.1% from ₹49,369.4 crore. Net segment liabilities decreased 3.0% sequentially to ₹18,704.4 crore from ₹19,292.4 crore. Net segment assets minus net segment liabilities increased, reflecting a higher net asset position. Over the year, net segment assets grew 9.2% and net segment liabilities grew 11.7%.

## Other Comprehensive Income

Other comprehensive income was ₹140.2 crore, compared with ₹721.9 crore in the previous quarter and ₹475.5 crore in the same quarter last year. Other comprehensive income includes items such as foreign currency translation gains and losses.

## Key Takeaway

Tech Mahindra’s revenue and profit before tax increased in the June 2026 quarter, with revenue growth outpacing expense growth. The quarter included a negative other income of ₹106.4 crore and higher finance costs. Tax expense rose, partly reflecting a shift in deferred tax from a credit to a charge. Basic earnings per share was ₹16.53.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +34.97%
- FII holding: +18.66%
- DII holding: +36.92%
- Mutual fund holding: +19.14%
- Retail holding: +6.18%
- Promoter pledged: +0.00%

### Major reported shareholders

- Mahindra & Mahindra Limited — +25.31% (Bodies Corporate)
- Life Insurance Corporation Of India — +11.11%
- TML Benefit Trust through Puneet Renjhen — +9.62% (Trusts)
- Sbi Nifty 50 Etf — +4.38%
- Icici Prudential Technology Fund — +2.59%
- Nps Trust- A/C Sbi Pension Fund Scheme - State Govt — +1.97%
- Kotak Flexicap Fund — +1.82%
- Aditya Birla Sun Life Trustee Private Limited A/C Aditya Birla Sun Life Flexi Cap Fund — +1.66%
- Uti Nifty 50 Etf — +1.43%
- Nippon Life India Trustee Ltd-A/C Nippon India Etf Nifty 50 Bees — +1.32%

## Official filings

- 2026-10-09 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_09102026222936_LiquidationIntimation-LCC_poland_S.pdf)
- 2026-10-09 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2421_WebXMLFile_20261009_225504311.xml)
- 2026-10-09 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_09102026232520_LiquidationIntimation-LCC_poland_S.pdf)
- 2026-10-07 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_07102026175315_Signed_SE_Certificate_under74_5__Q2.pdf)
- 2026-10-02 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_02102026163828_Intimation_for_schedule_of_concall_S.pdf)
- 2026-10-02 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2421_WebXMLFile_20261002_164042982.xml)
- 2026-09-30 — Board Meeting Notice: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_30092026172315_TML_BM_Prior_Intimation_TWC_Q2_FY27_S.pdf)
- 2026-09-30 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_30092026172455_TML_BM_Prior_Intimation_TWC_Q2_FY27_S.pdf)
- 2026-09-30 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_2421_WebXMLFile_20260930_172630403.xml)
- 2026-09-25 — Credit Rating Update: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_25092026204623_SEIntimationCreditRatings_S.pdf)
- 2026-09-17 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2421_WebXMLFile_20260917_202026415.xml)
- 2026-09-17 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_17092026201908_IntimationforInvestorConference_S.pdf)
- 2026-09-16 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_16092026172037_IntimationforInvestorConference_signed.pdf)
- 2026-09-16 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_16092026172130_IntimationforInvestorConference_signed.pdf)
- 2026-09-14 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_14092026221913_ESOP_allotment_Intimation_S.pdf)
- 2026-09-14 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_2421_WebXMLFile_20260914_222346422.xml)
- 2026-09-07 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_07092026183357_InvestorconferenceIntimation_1_S.pdf)
- 2026-09-07 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2421_WebXMLFile_20260907_183651213.xml)
- 2026-08-27 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_27082026101445_IntimationforInvestorConference_S.pdf)
- 2026-08-27 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2421_WebXMLFile_20260827_095958587.xml)
- 2026-08-26 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2421_WebXMLFile_20260826_113610127.xml)
- 2026-08-26 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_26082026113034_IntimationforInvestorConference_S.pdf)
- 2026-08-17 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/Apekshakhemka_17082026205854_Signed_17-08-2026-ESOP_allotment_Intimation.pdf)
- 2026-08-17 — Generic Announcement: Tech Mahindra Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_2421_WebXMLFile_20260817_210410079.xml)
- 2026-08-08 — Official Filing: On August 8, 2026, Tech Mahindra announced it received an independent ESG rating of 78.7 from SES Research Private Limited. SES prepared this rating voluntarily, based on Tech Mahindra's fiscal 2026 disclosures and publicly available data, without being engaged by the company. The company received the communication from SES on August 7, 2026.

## News and market events

- 2026-10-12 — MONEYCONTROL: **Tech Mahindra shares fall up to 4% ahead of Q2 results this week: Here's why** — Tech Mahindra share price — [Source](https://www.moneycontrol.com/news/business/markets/tech-mahindra-shares-fall-up-to-4-ahead-of-q2-results-this-week-here-s-why-14050077.html)
- 2026-10-12 — CNBC-TV18: **Tech Mahindra shares fall ahead of board meet to consider Q2 results, bonus** — Over the last three years, Tech Mahindra has paid dividends worth ₹168 apiece, including interim dividends of ₹15 in October 2025 and 2024 each and final dividends of ₹30 in 2025, ₹28 and ₹32 in 2024 and 2023, respectively. — [Source](https://www.cnbctv18.com/market/tech-mahindra-share-price-fall-board-meet-q2-results-bonus-issue-date-history-buyback-stock-split-20009705.htm)
- 2026-10-09 — BUSINESSTODAY: **TCS, Infosys, Wipro shares jump; Nifty IT rises 2%; what analysts say** — TCS shares, Infosys shares, Wipro shares, Nifty IT index, Indian IT stocks, IT stocks recovery, TCS Q2 FY27 results, OpenAI revenue, AI monetisation, PERM applications, IT stocks outlook, buy on dips, Indian stock market — [Source](https://www.businesstoday.in/markets/stocks/story/tcs-infosys-wipro-shares-jump-nifty-it-rises-2-what-analysts-say-560604-2026-10-09)
- 2026-10-09 — Mint: **India IT set for fourth year of weak growth on geopolitics, AI risks | Mint** — HCL Technologies and Tech Mahindra are next to report quarterly results, after TCS's revenue rose just 0.5% sequentially in constant currency terms. — [Source](https://www.livemint.com/industry/infotech/ai-impact-on-it-sector-quarterly-results-11791520593653.html)
- 2026-10-09 — BUSINESSTODAY: **TCS shares rally 5%; top 5 IT stocks add Rs 56,000 cr in m-cap, shrug off H-1B visa suspension** — Why IT stocks rising today, TCS share price, Infosys share price, Wipro share price, HCL Tech share price, TCS news, H1b visa news, H1b news — [Source](https://www.businesstoday.in/markets/stocks/story/tcs-shares-rally-5-top-5-it-stocks-add-rs-56000-cr-in-m-cap-shrug-off-h-1b-visa-suspension-560559-2026-10-09)
- 2026-10-09 — Economic Times: **India IT set for fourth year of weak growth on geopolitics, AI risks** — As HCL Technologies Ltd. and Tech Mahindra Ltd. unveil their latest reports, investors are keenly observing the situation, particularly given the looming threats posed by AI disruptions and restrained client expenditures. These factors are influencing growth forecasts for tech companies. Tata Consultancy Services Ltd. did exceed expectations in profit gains; however, revenue growth remained modest in terms of constant currency. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/india-it-set-for-fourth-year-of-weak-growth-on-geopolitics-ai-risks/articleshow/134804013.cms)
- 2026-10-05 — BUSINESSTODAY: **TCS, Infosys, HCL Tech, Wipro, TechM: 3 takeaways from Accenture's Q4 results; top picks** — Infosys share price, TCS share price, Accenture results, Accenture results key takeways for Indian IT firms — [Source](https://www.businesstoday.in/markets/stocks/story/tcs-infosys-hcl-tech-wipro-techm-3-takeaways-from-accentures-q4-results-top-picks-559576-2026-10-05)
- 2026-10-05 — Mint: **TCS, Wipro, Infosys, HCL, Tech Mahindra shares: Accenture Q4 strong show impact on Indian IT stocks decoded by experts** — Accenture's impressive Q4 earnings and upward revenue forecast signal cautious optimism for Indian IT stocks. However, experts urge investors to focus on deal conversions and overall demand dynamics as companies navigate the complexities of AI disruption and uneven market conditions. — [Source](https://www.livemint.com/market/stock-market-news/tcs-wipro-infosys-hcl-tech-mahindra-shares-accenture-q4-strong-show-impact-on-indian-it-stocks-decoded-by-experts-11791182896979.html)
- 2026-10-05 — Mint: **TCS, HCL Tech to Mphasis: IT stocks to add in portfolio ahead of Q2 results | Check target price, upside, preview** — IT stocks to buy: The brokerage’s recommendations point to a mixed but potentially attractive setup across Indian IT stocks. — [Source](https://www.livemint.com/market/stock-market-news/tcs-hcl-tech-to-mphasis-it-stocks-to-add-in-portfolio-ahead-of-q2-results-check-target-price-upside-preview-11791182199262.html)
- 2026-10-05 — The Hindu: **IT stocks: Accenture Q4 results, FY27 outlook lifts sentiment as Indian IT Q2 earnings near** — Accenture’s strong Q4 and upbeat FY27 outlook boost Indian IT sentiment ahead of Q2 earnings season. — [Source](https://www.thehindubusinessline.com/markets/it-stocks-accenture-q4-results-fy27-outlook-lifts-sentiment-as-indian-it-q2-earnings-near/article71545936.ece)
- 2026-10-01 — CNBC-TV18: **Here's when IT companies are reporting their Q2 results and these are the key focus areas** — From TCS' leadership transition to Infosys and HCLTech's growth guidance for FY27, there is a lot to focus on IT stocks as they count down to their second quarter results through the course of October and November. — [Source](https://www.cnbctv18.com/market/q2-results-dates-for-it-stocks-infosys-tcs-wipro-tech-mahindra-hcltech-mphasis-share-key-focus-areasprice-20002730.htm)
- 2026-10-01 — Economic Times: **AI pressure, client caution cloud Indian IT earnings in September quarter** — India's top IT firms are bracing for underwhelming earnings as they revise annual revenue growth expectations downward. The duel of AI-induced pricing pressures alongside restrained client spending is squeezing profit margins in the industry. Analysts predict a gradual sequential revenue rise ranging from 0.7% to 3.5% for the major players, while even giants like Infosys may lower their projections. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/ai-pressure-client-caution-cloud-indian-it-earnings-in-september-quarter/articleshow/134608234.cms)
- 2026-10-01 — MONEYCONTROL: **IT growth faces AI squeeze in Q2FY27 as pricing pressure mounts** — Sesnex,Nifty,IT, Information Technology,IT stocks,AI stocks — [Source](https://www.moneycontrol.com/news/business/markets/it-growth-faces-ai-squeeze-in-q2fy27-as-pricing-pressure-mounts-14042480.html)
- 2026-10-01 — Mint: **Double delight Tech Mahindra shareholders: Bonus issue and dividend amount this Diwali season - check board meeting date** — Tech Mahindra share price will remain in focus on Thursday, 1 October, after the company said that board will consider interim dividend for FY27 and a bonus share issue at its meeting next month. — [Source](https://www.livemint.com/market/stock-market-news/double-delight-tech-mahindra-shareholders-bonus-issue-and-dividend-amount-this-diwali-season-check-board-meeting-date-11790824588269.html)
- 2026-10-01 — BUSINESSTODAY: **GIFT Nifty down 110 points; NSE, YES Bank, TechM, Moneyview, Auro Pharma among top stocks in focus** — GIFT Nifty down 110 points; NSE, YES Bank, TechM, Moneyview, Auro Pharma among top stocks in focus — [Source](https://www.businesstoday.in/markets/stocks/story/gift-nifty-down-110-points-nse-yes-bank-techm-moneyview-auro-pharma-among-top-stocks-in-focus-558932-2026-10-01)
- 2026-10-01 — CNBC-TV18: **Bonus Alert: 7.1 lakh retail shareholders of Tech Mahindra to be rewarded on October 15 - A look at past trends** — Over the last three years, Tech Mahindra has paid dividends worth ₹168 per share to its shareholders, this includes interim dividends of ₹15 each in October 2025 and 2024 each, and final dividends of ₹30 in 2025, ₹28 in 2024 and ₹32 in 2023. — [Source](https://www.cnbctv18.com/market/tech-mahindra-share-price-bonus-issue-board-meet-october-15-q2-results-past-history-dividend-buyback-stock-split-20002564.htm)
- 2026-10-01 — The Hindu: **These stocks will see heightened activity on October 1** — Stocks across autos, tech, and infrastructure set for mixed moves — [Source](https://www.thehindubusinessline.com/markets/these-stocks-will-see-heightened-activity-on-october-1/article71531230.ece)
- 2026-10-01 — CNBC-TV18: **Sensex Today | Stock Market Live Updates: Nifty set for eighth straight weekly loss ahead of Sensex expiry** — Sensex Today | Stock Market Live Updates: The final day of the week is also the first day of the new month and a new quarter. Business updates will start pouring in from companies for the quarter gone by. Also to be reported will be the Auto sales figures for September and the expectations are that it will be another strong quarter for auto companies. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-yields-inr-banks-auto-sales-ncc-tech-mah-igl-hudco-midcaps-share-price-liveblog-20002553.htm)
- 2026-09-30 — Mint: **IT Q2 results 2026 date and time: TCS, Infosys, HCL Tech FY 2027 earnings announcement schedule** — As Indian IT companies begin revealing their Q2 FY27 results this October, investor focus will be on firms like TCS and HCL Tech, despite ongoing challenges from geopolitical tensions and economic uncertainties, suggesting another subdued quarter for the sector's performance. — [Source](https://www.livemint.com/market/stock-market-news/it-q2-results-2026-date-and-time-tcs-infosys-hcl-tech-fy-2027-earnings-announcement-schedule-11790778777510.html)
- 2026-09-30 — REDIFF.COM: **Stock Markets Today: Sensex, Nifty Recover as Oil Prices Moderate; IT Sector Leads Gains** — Indian benchmark indices Sensex and Nifty rebounded in early trade after two days of losses, driven by easing crude oil prices and strong buying in blue-chip IT stocks, despite continued global uncertainties. Track Sensex, Nifty on September 30. — [Source](https://www.rediff.com/business/report/sensex-nifty-rebound-on-september30-easing-crude-prices--it-stocks-drive-market-recovery/20260930.htm)
- 2026-09-30 — Economic Times: **TCS, Wipro, other IT stocks rebound up to 6%, snapping 8-day losing streak. Why is Jefferies cautious?** — IT stocks rebounded on Wednesday, with TCS, Wipro and Coforge snapping an eight-session losing streak. The Nifty IT index rose nearly 3%, aided by a stronger US dollar and higher US bond yields, though brokerages remain cautious ahead of the Q2 earnings season. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/tcs-wipro-other-it-stocks-rebound-up-to-6-snapping-8-day-losing-streak-why-is-jefferies-cautious/articleshow/134583730.cms)
- 2026-09-30 — BUSINESSTODAY: **Infosys, TCS, HCL Tech, Wipro, TechM: Weakest Q2 results in 3 years? Share price targets** — Infosys share price, TCS share rpice, HCLT share price, Wipro share price, TechM share price, IT preview, Q2 results, Q2 IT results preview — [Source](https://www.businesstoday.in/markets/stocks/story/infosys-tcs-hcl-tech-wipro-techm-weakest-q2-results-in-3-years-share-price-targets-558710-2026-09-30)
- 2026-09-30 — MONEYCONTROL: **IT stocks rally: Nifty IT jumps over 2% as Fed rate hike bets ease; TCS, Tech Mahindra, HCL Tech lead** — it stocks today, nifty it update, tcs share price, wipro stocks, nifty it jumps, nifty top gainers, midcap it stocks update, us fed rate hike — [Source](https://www.moneycontrol.com/news/business/markets/it-stocks-rally-nifty-it-jumps-over-2-as-fed-rate-hike-bets-ease-tcs-tech-mahindra-hcl-tech-lead-14041716.html)
- 2026-09-30 — The Hindu: **IT stocks rally: Coforge, Mphasis, TCS, Persistent Systems gain up to 5%, Kotak sees muted Q2 growth** — Kotak expects margins to remain stable, although underlying pressure is becoming increasingly visible in operating metrics — [Source](https://www.thehindubusinessline.com/markets/it-stocks-rally-coforge-mphasis-tcs-persistent-systems-gain-up-to-5-kotak-sees-muted-q2-growth/article71526782.ece)
- 2026-09-30 — Mint: **IT sector Q2 FY27 preview: TCS, Infosys to HCL Tech, Tech M— Kotak sees muted quarter for Indian IT giants** — Brokerage firm Kotak Institutional Equities believes that demand conditions have neither improved nor deteriorated since the June 2026 quarter and therefore another muted quarter for large companies is expected. — [Source](https://www.livemint.com/market/it-sector-q2-fy27-preview-tcs-infosys-to-hcl-tech-tech-m-kotak-sees-muted-quarter-for-indian-it-giants-11790737393757.html)

## Business profile

**Strategic vision:** IT, networking, and BPO services for digital transformation.

### Business segments
- **Communications, Media, and Entertainment (CME):** Delivers network design, software-defined networking, OSS/BSS maintenance, and digital transformation services to global telecom operators.
- **Manufacturing & Engineering Services:** Provides product lifecycle management, automotive engineering, digital twin modeling, smart factory systems, and design consulting through Pininfarina.
- **Banking, Financial Services & Insurance (BFSI):** Implements core banking software upgrades, payment gateway integration, risk management, and digital customer onboarding systems.

### Competitive strengths
- Synergies with parent Mahindra Group's diverse industrial operations.
- Integrated design and engineering capabilities through Pininfarina.
- Established relationships with global telecom operators.

## Related stocks

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- [HCL Technologies Limited (IT)](https://faxioms.com/stocks/hcltech) — +8.42%
- [Infosys Limited (IT)](https://faxioms.com/stocks/infy) — +4.13%
- [Tata Consultancy Services Limited (IT)](https://faxioms.com/stocks/tcs) — +6.79%
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## Freshness and sources

- Data as of: 2026-10-13
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/techm
Markdown representation: https://faxioms.com/stocks/techm?render=md