Key Points
Kotak highlighted the long turnaround journey for Tech Mahindra despite healthy revenue growth, citing macro challenges and weak telecom outlook..
Nuvama called Q3 earnings a mixed bag with an uncertain outlook, noting lower EBIT margin and weak bookings..
Shares of Tech Mahindra fell more than 6% in Thursdays trade to the day's low of Rs 1,320.05 on the NSE following a disappointing set of numbers posted by the company for the December quarter..
Tech Mahindra has made the right moves but the turnaround journey will be long, Kotak said in its post-earnings stock review note..
Revenue was higher than its estimate of -1% CC QoQ boosted by exceptional revenue, Nuvama said as it noted an EBIT margin of 5.4% to be slightly below the estimate of 5.6%..
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