Hot Chips

Tech Mahindra
BSE Code: 532755
Volume: 756096
CMP: 921.10

Tech Mahindra is a global systems integrator and technology solutions provider to the telecom industry. It has been quite active since the start of CY09 as far as its growth strategy goes and has expanded its operations by doing both organic and inorganic expansion activities. As per an institutional report, the company seems to be a good bet amongst its domestic peers and it has also recently been awarded as a leading telecom software provider. Meanwhile, in the past one week and more the mid-cap IT stocks have been in the limelight. Technically, the counter has witnessed huge volumes with a decent rise in the market price and has been the investors’ fancy for quite some time. Looking at the increasing built-up in the counter, a leading derivative strategist has put a buy call on the scrip with a price target of Rs 1,050 with a medium-term perspective. As per a broker, IT companies might be able to perform well in the upcoming Q2FY10 results. Thus investors with a medium-term perspective can buy the scrip.