Tech Mahindra’s net profit increased 46.8% to ₹1,250 crore in the fiscal second quarter, driven by improved margins and a one-time land sale gain. Revenue rose 2.4% sequentially to ₹13,313 crore. The company’s total contract value surged to $603 million, and it hired 6,653 employees, with a focus on operational excellence through Project Fortius.
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Va Tech Wabag (20-10-2024)
I feel if we take forward earnings of 2026, expecting a PAT of around 300 cr. That values it at 35 times fy26 earnings. I also feel the 15% growth will get re rated to a higher number on actuals. The management is very conservative in my view and may surprise on the positive side. Markets are factoring it now and the move last week was due to fund buying
HDB Financial Services to raise ₹12,500 via IPO (20-10-2024)
The Mumbai-based bank’s board has approved its unit’s offer for sale of equity shares worth ₹10,000 crore held by the bank and ₹2,500 crore of new shares.