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<ul><li><keyword id="43217" type="CITY" weightage="20" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> was the top gainer on Nifty 50 with an 8% surge in its shares.</li><li>The company gave a guidance of more than 10% revenue growth for FY22 for the first time in over 5 years in June quarter.</li><li>Revenues grew 4.1% in the quarter in dollar terms to $1.38 billion.</li></ul>Shares of Tech Mahindra surged about 8% as investors cheered the company’s double digit growth guidance in revenue for FY22. Also, the stock hit its one year high at ₹1,223.70 on Friday, July 30. The information technology (IT) services major reported a 4.1% quarter-on-quarter growth in revenues at $1.38 billion while profit after tax jumped 24.1% quarter-on-quarter to $183.2 million.<div type="image" title="tech mahindra chart" height="900" width="1200" msid="84882149" hostid="261"></div> The company added 5,209 employees in the April-June quarter taking the total headcount to 126,263. “The double-digit revenue growth in FY22 (as guided) will be a first for Tech Mahindra, after half a decade – a testimony of its significant underperformance,” said a report by Phillip Capital. “The company has reported a decent set of numbers, slightly ahead of expectations, which were quite low to begin with. Constant currency growth of 3.9% in the quarter, while ahead of estimates, was significantly lower than peers. Margins came ahead of expectations while dealflow remained strong,” added the report. “We have witnessed an all rounded performance this quarter with growth across our key markets and industry sectors. We continue to see strong traction in large deal wins as we are helping our customers in integrated digital transformation,” said CP Gurnani, managing director and chief executive officer of Tech Mahindra. At 10:43 a.m., on Friday, shares of the company were trading at ₹1,231, higher by 9%. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/cleartax-major-acquisitions-and-hiring-2021-funding-on-the-way/articleshow/84880048.cms">Clear has planned major acquisitions and hiring for this year, in talks with investors to raise funds </a> <a href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-last-day-for-subscription-allotment-on-august-4/articleshow/84864899.cms">Today is the last day of Rolex Rings’ ₹731 crore IPO with a price band of ₹880-900 </a>

Tech Mahindra shares surge as for the first time in over five years the management sees a 10% plus growth

<ul><li>Tech Mahindra’s share price hit a new high of ₹910 apiece after announcing its plans to target $100 billion in cloud services and its leverage in 5G.</li><li>According to analysts, the company is well poised to gain from the global increase in IT spend and has the healthiest deal pipeline of the last four quarters. </li><li>However, Tech Mahindra CFO Manoj Bhat notes that the gains from the company’s investments in 5G are unlikely to kick in before the next fiscal year. </li></ul>Tech Mahindra’s share price is up by 1.5% after analysts gave the company an optimistic review. The company even hit a fresh 52-week high of ₹910 per share in early trade. <div type="image" title="kotak mahindra bank share price (1)" msid="79506920" hostid="261" caption="&amp;lt;p&amp;gt;Tech Mahindra share price since 1 January 2020&amp;lt;/p&amp;gt;"></div> The key factors driving the rally behind Tech Mahindra are 5G and cloud migration. On the one hand, the company believes there’s a multi-billion dollar opportunity in 5G network services, which it calls ‘Network Services 3.0’. On the other hand, it also wants to get its hands on the $100 billion in IT services spend, expected to come through large deals, data centre monetisation, and scaling up software-as-a-service (SaaS) platforms. “We remain positive on the company as it is well poised to capture improving IT spend in communication and digital traction on the enterprise side. Further, in the long term, we believe TechM will be a key beneficiary of 5G opportunities,” noted ICICI Direct. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,253 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,030 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 980 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emkay </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,070 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 940 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,017 </td></tr></tbody></table>Source: Respective reports The gains from 5G won’t kick in till next year Like many other industries, 5G has not been immune from the effects of COVID-19. The roll-out of the new network has slipped on the list of priorities for many in the battle against the pandemic. Even though Tech Mahindra’s focus is squarely on 5G, there is a lack of clarity around the timeline, according to Motilal Oswal. While the IT services company will definitely gain if and when 5G emerges full throttle, especially as a partner with the Japanese Rakuten Mobile, it won’t likely be in the current fiscal year. “Activity in the telecom sector is starting to happen, both in the IT and networks side. But the network side revival has been slower. It has grown slower than the rest of the business. We still believe 5G will appear more in FY 22, and not in the current fiscal,” Tech Mahindra CFO Manoj Bhat told Business Insider in an interview last month. Currently, Tech Mahindra sees 5G as a $63 to $83 billion opportunity between 2020 to 2025. According to <a href="https://www.bloombergquint.com/markets/tech-mahindra-stock-hits-an-all-time-high-on-bullish-analyst-ratings">Jefferies</a>, the company is well-placed to leverage the 5G cycle once it kicks off. A new strategy for cloud and platforms Global spending on cloud services is expected to hit $1 trillion in 2024 spurred by the COVID-19 pandemic, according to the International Data Corporation (IDC). The strongest growth in the ‘as a service’ category set to account for more to 60% of cloud revenues worldwide. Within that, Tech Mahindra is targeting the smallest cloud category — infrastructure build. This includes hardware, software, and support for enterprise private clouds and service provider public clouds. According to the management, there are currently 73 large deals in the pipeline, which shows a 20% growth over the last six months. “Deal pipeline healthiest in the last four quarters,” noted <a href="https://www.bloombergquint.com/markets/tech-mahindra-stock-hits-an-all-time-high-on-bullish-analyst-ratings">Morgan Stanley</a>. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-is-still-fighting-its-ban-as-indigenous-clone-fau-g-makes-its-debut/articleshow/79503526.cms">PUBG Mobile India is still fighting its ban as indigenous clone FAU-G makes its debut</a> <a href="https://www.businessinsider.in/business/startups/news/kunal-shah-cred-raises-80-million-valuation-doubles-to-800-million-for-the-just-two-year-old-startup/articleshow/79502864.cms">Kunal Shah’s CRED raises $80 million — valuation doubles to $800 million for the just two-year old startup</a> <a href="https://www.businessinsider.in/science/space/news/new-technology-to-create-fuel-and-oxygen-on-mars-could-help-humans-explore-the-deep-sea-here-on-earth/articleshow/79504876.cms">New technology to create fuel and oxygen on Mars could help humans explore the deep sea here on Earth</a>

Tech Mahindra's share price hits a new high as the company targets the $100 billion cloud opportunity and guns for 5G

<ul><li>One of the top five IT services companies, <keyword id="43217" type="General" weightage="20" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> reported a 25% decline in net profit for April-June quarter.</li><li>The management attributed the decline in profitability to rising employee benefits costs, which includes promotions and salary hikes.</li><li>However, high spending towards retaining employees by giving hikes and promotions has paid off the firm’s attrition rate, which has come down to 22% from 24% last quarter.</li><li>Tech Mahindra’s attrition is still better than peers Infosys (28.4%) and TCS (23.3%).</li></ul>A fourth of Tech Mahindra’s first quarter revenues were eaten up by employee expenses, pushing its profits down by 25% on a sequential basis. The company’s CEO C P Gurnani says that this wage hike has reduced its attrition by 2% from last quarter, and predicts that it will reduce by another 4% in six months. But when asked for specifics, he said, “Attrition is as hard to predict as death,” at the post-earnings press conference. Its total income grew marginally by around 3% to ₹12,830 crore sequentially. Its constant currency revenue growth stood at 3.5%, the company said in its press release. “We are confident that we will be presenting to you continuously over the next few quarters industry leading growth. We are also confident that we will have an opportunity to work on the profitability levers,” said Gurnani. High spending towards retaining employees by giving hikes and promotions has aided as Tech Mahindra’s attrition rate has come down to 22% from 24% last quarter. If it’s able to keep up with its predictions, in the next two quarters, it could come down to 18%. Tech Mahindra’s attrition is still better than peers Infosys which is at 28.4% and that of TCS at 23.3%. Tech Mahindra’s expenses shot up 30% on year and 7% sequentially in June quarter to ₹8,937 crore and most of it was due to wage hikes, promotions and more. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employee benefit expenses </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,286 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,945 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,601 crore </td></tr></tbody></table> “Delivery transformation, cost optimization and cash conversion will be key focus areas, as we continue to offset the strong supply side headwinds in the market. We aim to expand our profitability through operational excellence and improved operating metrics over the course of FY’23,” Rohit Anand, chief financial officer at Tech Mahindra said. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,830 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,436 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,484 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,147 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,545 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,365 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Margin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.8% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.4% </td></tr></tbody></table> SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/policy/economy/news/house-of-cards-goldman-sachs-cuts-msci-china-index-earnings-forecast-to-zero/articleshow/93113216.cms">House of cards: Goldman Sachs cuts MSCI China's earnings forecast to zero</a> <a href="https://www.businessinsider.in/india/news/india-has-the-highest-rate-of-women-taking-action-against-harassment-calls-and-messages/articleshow/93107553.cms">India has the highest rate of women taking action against harassment calls and messages</a> <a href="https://www.businessinsider.in/science/health/news/monkeypox-outbreak-in-india-heres-what-we-know-so-far-about-symptoms-prevention-of-the-infection/articleshow/93111853.cms">Monkeypox outbreak in India: Here’s what we know so far about symptoms, prevention of the infection</a>

Attrition is as hard to predict as death says C P Gurnani after TechM loses profits to wage hikes

<ul><li><keyword id="43217" type="CITY" weightage="20" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> is the top gainer on Nifty 50 and Nifty IT in the last 30 days.</li><li>After the company gave double digit growth guidance for FY22 and showed potential business opportunities in the 5G space, analysts have remained positive on the stock.</li><li>The market share of the large cap IT company stood at ₹1.33 lakh crore as of August 13.</li></ul>Shares of Tech Mahindra have gained 31% in the last 30 days as analysts remain positive on the information technology (IT) company’s growth prospects on good opportunities in the 5G space. Tech Mahindra is known for its strong play in network infrastructure services compared to its peers. “The company is well invested in capturing opportunities from the expansion of the 5G value chain across networks and IT services from both telecom service providers and enterprises,” said a report by broking firm Sharekhan. <div type="image" title="tech mah 2" height="900" width="1200" msid="85296207" hostid="261"></div> On July 30, the stock had surged about 8% as the company gave double digit growth guidance of more than 10% in revenue growth for FY22. In June quarter earnings call, the management indicated that almost 60-70% of its new signings in the telecom segment will be in the area of 5G. Hence, it expects strong deal flow in the 5G space from telecom players and enterprises in the coming quarters. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top 5 Nifty 50 gainers in 30 days </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">31.67% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">19.67% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16.12% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">15.52% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">15.27% </td></tr></tbody><tbody></tbody></table> Analysts at HDFC Securities also have a positive outlook on the company because of “the company’s largest deal win in the healthcare vertical, healthy growth in business process services, increase in intake of freshers after six quarters, improvement in 5G related deals (close to 50% of telecom deals are related to 5G), and continued growth momentum in enterprise segment, led by technology, banking, financial services and insurance (BFSI) and manufacturing verticals.” SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/upcoming-lic-ipo-may-be-split-into-two-offerings-as-per-reports/articleshow/85294066.cms">LIC’s mammoth IPO may happen in two parts, as government reportedly believes market may not have the capacity to absorb it in one go</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/paytm-ipo-former-one-97-communication-director-urges-sebi-to-stall-the-public-issue/articleshow/85293132.cms">Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue</a>

Tech Mahindra rallies more than 30% in 30 days as analysts seem bullish on 5G opportunities for the blue chip stock

<keyword id="43217" type="General" weightage="100" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> on Friday said it has approved a proposal for the acquisition of a 100 per cent stake in <keyword id="12852751" type="General" weightage="80" keywordseo="allyis-india" source="Orion">Allyis India</keyword> and <keyword id="894535" type="General" weightage="80" keywordseo="green-investments" source="Orion">Green Investments</keyword>, for a total consideration of up to $125 million. The acquisition is expected to bolster Tech Mahindra's capabilities in digital experience solutions - learning and development, marketing, instructional design; and engineering - cloud and automation, analytics, and technical support services. Tech Mahindra would pay total consideration of up to $125 million, including employment-related and performance-related earnouts, the company said in a regulatory filing. "...the company approved the proposal to acquire 100 per cent equity shares in Allyis India Private Limited and the company's wholly-owned subsidiary viz., Tech Mahindra (Americas) Inc. approved the proposal to acquire 100 per cent equity shares in Green Investments LLC, holding company for Allyis Group," Tech Mahindra said in a BSE filing. The target entity is headquartered in Seattle, USA and has more than 660 employees. "For the financial year ending December 31, 2020, the target had revenue of $39.6 million," it said. Outlining the details of the target, Tech Mahindra said it offers technology consulting and managed services that help organisations reduce costs and improve performance. While Allyis India Pvt Ltd was incorporated in 2018, Green Investments LLC was incorporated in 2013. The turnover of the two entities stood at $39.6 million in the calendar year 2020. "The CY21 (the calendar year 2021) turnover, for the first 11 months starting 1 January 2021 to 30 November 2021 is at $45.7 million," it added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-acquires-uk-battery-tech-company-faradion/articleshow/88606195.cms">Mukesh Ambani’s clean energy vision gets a New Year boost with the acquisition of this UK battery tech company</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/social-media-in-2022-expectations-predictions-and-everything-new-that-may-arrive-on-the-platforms/slidelist/88595320.cms">Social media in 2022 — Expectations, predictions and everything new that may arrive on the platforms</a>

Tech Mahindra buys US-based Allyis India, Green Investments for $125 million

<ul><li>The technology company’s consolidated profit after tax grew just 2.2% sequentially in October to December.</li><li>Shares of the company slipped nearly 4% on Wednesday as investors were disappointed with the marginal growth in profits.</li><li>Adding to it, more employees left <keyword id="43217" type="General" weightage="20" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> than at <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> and <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> in an industry that is struggling with high attrition rate.</li></ul>Shares of information technology (IT) firm Tech Mahindra slumped nearly 4% on February 2 as investors sold stocks after the company delivered lower than expected profits. The company's net profit increased 2.2% sequentially to ₹1,369 crore in October to December as compared to expectation of ₹1,454 crore consensus estimate of analysts tracked by <a href="https://www.bloombergquint.com/business/tech-mahindra-q3-results-profit-rises-22-but-misses-estimates-attrition-inches-up">Bloomberg</a>. While revenue is in line with expectations, weaker than expected margins and slower hiring is a concern, says analysts <a href="https://twitter.com/CNBCTV18Live/status/1488700416942829568">reportedly</a> at UBS investment banking firm. It also maintained a ‘sell’ rating on the stock with a target price of ₹1,260 per share. Adding to it, more employees are leaving Tech Mahindra than TCS and Wipro in an industry that is struggling with a high attrition rate. However, Tech Mahindra is not the only firm struggling with high attrition, every other IT firm is getting more resignations than ever before. Infosys has the highest attrition rate in the industry. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Attrition rate in Oct-Dec </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.3% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>“We continue to strengthen our presence, deliver broad-based profitable growth and value for our customers, backed by future-ready talent and niche digital capabilities,” said CP Gurnani, managing director and chief executive officer at Tech Mahindra. Tech Mahindra’s total headcount has increased by 19% on a yearly basis to 1.45 lakh as on December quarter. <div type="image" title="tech mahindra" height="900" width="1200" msid="89291795" hostid="261"></div> <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra Q3 results </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% growth QoQ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% growth YoY </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue growth in dollar terms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit after tax </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.5% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-nirmala-sitharaman-was-asked-these-10-questions-on-cryptocurrency-employment-inflation-in-india/slidelist/89280855.cms">India’s finance minister was asked these 10 questions and these were her answers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/india-budgets-2022-for-a-trickle-down-as-slow-as-that-might-be/articleshow/89280984.cms">India budgets for a trickle down ⁠— as slow as that might be</a>

More employees are leaving Infosys, Tech Mahindra than TCS and Wipro

<ul><li>The demand-supply gap between fresh talent and the skill demands of the <keyword id="6368235" type="UNKNOWN" weightage="20" keywordseo="IT-services">IT services</keyword> industry is only going to increase in the coming days.</li><li><keyword id="43217" type="CITY" weightage="20" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> points out that while skills are high in demand, clients are willing to pay a premium because the pace of change is so fast.</li><li>For now, talent availability is trumping the ‘rate discussion’ as clients look to speed up their digital transformation.</li></ul>Reskilling employees in the IT services sector is not a new phenomenon. However, since COVID-19 pushed so many businesses to expedite their digital journey, the demand for these skills is higher than ever. “I see some of the skills which are high in demand, but clients are willing to pay a premium because of the pace of change. What is impacting us, is also impacting our clients,” Vivek Agarwal, the head of corporate development and global head for healthcare and financial Services at Tech Mahindra told Business Insider in an exclusive interaction. A study by <a href="https://nasscom.in/knowledge-center/publications/futureskills-talent-india-demand-supply-analysis">NASSCOM</a> estimates that India’s demand for digital talents is around eight times larger than the size of its fresh talent pool. In another three years, this demand is expected to be twenty times greater than the available manpower. Analysts <a href="https://www.livemint.com/market/mark-to-market/tech-mahindra-s-stellar-margins-steal-the-show-but-may-not-sustain-11611933180424.html">caution</a> that hiring based on specific talents could come at a higher cost. This could possibly impact the stellar margins that Tech Mahindra has seen over the past two quarters. “Talent availability is trumping the ‘rate discussion’ right now for a lot of these ‘very much in demand’ skills,” said Agarwal. Tech Mahindra has four vertices in its line of sight According to Tech Mahindra’s CFO, Manoj Bhat, the company will be doubling down on four vertices — communications, manufacturing, healthcare and BFSI. “That is where our investments are going to be,” he told Business Insider. And, within these vertices, cloud, artificial intelligence (AI) and digital is where the company is looking for the right set of skills. “Full chain execution — where somebody can deliver a program effectively — is more important to clients than just finding the right individual talent,” explained Agarwal. More deals, more money, and the need for more talent According to Bhat, Tech Mahindra’s pipeline today may be at an ‘all time high’. “It’s a very big pipeline today. We should see acceleration of deal wins going into Q4 and beyond, hopefully,” he said. And, with more deal wins, having the right talent on hand is more important than ever. COVID-19 has highlighted the drawbacks of what happens when a business doesn’t go digital, which is why businesses want ways to access their customers in a manner that is not solely dependent on a physical connection, according to Bhat. “A lot of customers are also looking at total outsourcing in a very different manner, which will then allow them some sayings on their operational spends, which will help fund a lot of these initiatives,” he explained. On the one hand, talent is going to get more expensive as the demand-supply gap widens. But, at the same time ‘work from anywhere’ is going to help expand the fresh talent pool as Indian IT services companies like Tech Mahindra look to capitalise on the third wave of outsourcing. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/heres-why-indias-biggest-banking-stocks-went-nuts-today-and-what-they-missed/articleshow/80626013.cms">Here's why India's biggest banking stocks went nuts today — and what they missed</a> <a href="https://www.businessinsider.in/science/health/news/india-needs-a-regulator-for-private-hospitals-and-doctors-says-chief-economic-advisor/articleshow/80585394.cms">India needs a regulator for private hospitals and doctors, says Chief Economic Advisor</a> <a href="https://www.businessinsider.in/india/news/migrant-workers-to-get-minimum-wages-rental-homes-but-experts-unhappy-with-lack-of-mnrega-push/articleshow/80631215.cms">Migrant workers to get minimum wages, rental homes but experts unhappy with lack of MNREGA push</a>

EXCLUSIVE: Tech Mahindra CFO says talent is getting expensive but clients are willing to pay the premium

<ul><li>HCL Technologies’ stock was trading over 10% in afternoon trade today after the IT services giant announced its mid-quarter review.</li><li>It issued a revenue growth guidance of 3.5% and EBIT of between 20.5% to 21% this quarter.</li><li>The rally led to the share price of other bigwig IT stocks — Tata Consultancy Services (TCS), Infosys, Wipro and Tech Mahindra — to also shoot up by at least 3%.</li></ul>Indian IT services giant HCL Technologies’ mid-quarter review and guidance haveIT stocks rallying to new highs even as the COVID-19 uncertainty continues to loom. The company expects its revenue growth to be around 3.5% for this quarter, after reporting a dip of 7.2% at the end of June. HCL Tech’s own share price shows the biggest jump, rallying by over 10% in afternoon trade on the Bombay Stock Exchange. <div type="image" title="hcl tech share price" msid="78103712" hostid="261" caption="&amp;lt;p&amp;gt;HCL Tech&amp;#39;s share price over the last three months&amp;lt;/p&amp;gt;"></div> In the rally led by HCL Tech, the other top 5 Indian IT stocks — Tata Consultancy Services (TCS), Infosys, HCL Tech, Wipro, Tech Mahindra, and L&amp;T Infotech — followed suit, shooting up by at least 3%. The boon for the even greater for TCS as the sudden rise took it to become the <a href="https://www.businessinsider.in/stock-market/news/after-reliance-tcs-becomes-second-indian-firm-to-cross-9-lakh-crore-market-valuation/articleshow/78104482.cms">second Indian company to cross the ₹9 lakh crore mark </a>after Mukesh Ambani's Reliance Industries crossed the same threshold in October last year. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change (trade today) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consultancy Services (TCS) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.26% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.13% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.67% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.26% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.57% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T Infotech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.06% </td></tr></tbody></table>Source: BSE as of 1:30 pm on September 14 HCL Tech’s mid-quarter review In the first three months of the current financial year, April to June, HCL Tech signed 11 new deals even though the number of large clients it has on its payroll did not increase. HCL's 7.2% fall in revenue is also greater, compared to its peers, who were also in the red but by a lesser margin. <div type="image" title="infosys vs tcs vs wipro revenue q1fy21 (2)" msid="78103761" hostid="261" caption="&amp;lt;p&amp;gt;HCL Tech&amp;#39;s revenue dipped by 7.2% in the first quarter of the current financial year&amp;lt;/p&amp;gt;"></div> “Good booking momentum continues this quarter, led by Life Sciences &amp; Healthcare, Telecom &amp; Media and Financial Services verticals,” <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/6cc42b7b-a7bd-4d58-8b02-ee10af20f6cb.pdf">HCL Tech</a> said in its filing with the BSE, adding that the pipeline continues to look healthy. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/its-not-just-india-chinese-intelligence-has-its-eye-on-more-than-2-4-million-individuals-across-the-us-japan-canada-australia-and-the-uk/articleshow/78101034.cms">It's not just India — Chinese intelligence has its eye on more than 2.4 million individuals across the US, Japan, Canada, Australia, and the UK</a> <a href="https://www.businessinsider.in/defense/news/india-china-border-tension-will-be-in-focus-as-the-parliaments-monsoon-session-begins-today/articleshow/78098575.cms">India-China border tension will be in focus as the Parliament's Monsoon session begins today</a> <a href="https://www.businessinsider.in/finance/banks/news/all-eyes-on-parliaments-monsoon-session-the-banking-regulation-amendment-bill-2020-may-not-be-on-the-docket-for-long/articleshow/78101791.cms">All eyes on Parliament's Monsoon session — the Banking Regulation (Amendment) Bill 2020 may not be on the docket for long</a>

HCL Tech's mid-quarter guidance optimism sparks rally in TCS, Infosys, Wipro, and Tech Mahindra too

Top stock picks for 2021 — Brokerages are betting big on Bharti Airtel, Tech M, HUL, Biocon, and Sun Pharma

<ul><li>The 30-share BSE index Sensex was down 150 points, and the NSE Nifty was trading 0.40% lower at 9:55 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices opened on a choppy note on Monday, tracking losses in index majors Reliance Industries, ICICI Bank and Tata Steel. The 30-share BSE index Sensex was down 150 points, and the NSE Nifty was trading 0.40% lower at 9:55 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td></tr></tbody></table>*as of October 26, 10:15 am These are the top stocks in news today. IndusInd Bank soars 3%, Kotak Mahindra Bank trades flat The shares of IndusInd Bank gained over 3% after the bank refuted <a href="https://www.cnbctv18.com/finance/indusind-bank-says-report-on-merger-with-kotak-mahindra-bank-is-untrue-and-malicious-7297331.htm">media reports claiming that</a> Kotak Mahindra Bank is looking at acquiring the bank. The shares of Kotak Mahindra Bank were also trading flat during the early session on Monday. Tech Mahindra slips over 2% The shares of Tech Mahindra shed over 2% after the company <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-q2-maring-expansion-and-acquisitions/articleshow/78827612.cms">reported a 5% year-on-year drop in its profit to ₹1,065 cror</a>e for the quarter ended September 30. However, the profit was up 9.5% compared to the sequential quarter. The company generated revenue of ₹9,372 crore, up 3.3% year-on-year. Nestle India up 3% post Q2 numbers The shares of Swiss multinational company Nestle’s Indian subsidiary were trading 3% higher after the September quarter result. The company reported a 1.37% year-on-year fall in net profit at ₹587.09 crore for the quarter ended September 30. However, the numbers were better than the<a href="https://economictimes.indiatimes.com/markets/stocks/earnings/nestle-q3-results-net-profit-flat-at-rs-587-cr-beats-estimates-firm-announces-interim-dividend-of-rs-135-per-share/articleshow/78830180.cms"> street’s expectations</a>. YES Bank leaps 5% The shares of YES Bank gained over 5% after the private sector lender reported a net profit of ₹129 crore for the second quarter ended September 30. The bank had posted a net loss of ₹600 crore in the corresponding quarter last year. RIL, Future Retail fall after Singapore-based arbitration panel decision The shares of Reliance Industries and Future Retail <a href="https://www.businessinsider.in/stock-market/news/ril-future-retail-stocks-under-pressure-after-singapore-arbitration-court-rules-in-favour-of-amazon/articleshow/78865963.cms">cracked </a>2% and 6%, respectively, after a Singapore-based single judge arbitration panel asked Future Group to stall its retail business deal with RIL. The decision also moved other Future Group stocks such as — Future Lifestyle Fashions trading 8% lower and Future Enterprises down nearly 5%, among others. Tata Motors shares up 2% The shares of Tata Motors gained over 2% after the company told investors that it had bagged an order for 6,413 vehicles from Andhra Pradesh State Civil Supplies Corporation. The company said it emerged as the top bidder under the terms and conditions set by the government. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/piramal-group-is-ready-for-acquisitions-in-both-pharma-and-financial-services/articleshow/78865009.cms" data-type="tilCustomLink">EXCLUSIVE: Piramal Group is ready for acquisitions in both pharma and financial services</a> <a href="https://www.businessinsider.in/stock-market/news/ril-future-retail-stocks-under-pressure-after-singapore-arbitration-court-rules-in-favour-of-amazon/articleshow/78865963.cms" data-type="tilCustomLink">RIL, Future Retail stocks under pressure after Singapore arbitration court rules in favour of Amazon</a> <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

Top stock movers — Kotak Mahindra Bank, IndusInd Bank, Tata Motors, Nestle India, Tech Mahindra, YES Bank and others

<ul><li>Global investment firm Nomura's model portfolio is heavily skewed towards blue chip stocks. </li><li>Four stocks -- Reliance Industries, HDFC Bank, ICICI Bank, Axis Bank, L&amp;T and HCL Tech-- make up for nearly 50% of all the investments.</li><li>There is also added emphasis on companies focussed on infrastructure construction. </li></ul>Investing in stock markets can tricky in these volatile times. Sentiment is swaying from one extreme to another driven by changes at home -- the ₹1.45 trillion sweeping tax cuts announced by Finance Minister Nirmala Sitharaman-- and evolving global risks like <a href="https://www.businessinsider.in/Trump-impeachment-odds-skyrocket-to-62-on-popular-betting-website/articleshow/71285122.cms" data-type="tilCustomLink" target="_blank">the risk of Donald Trump's impeachment</a>, the US-China trade war, a possible spike in oil prices to name a few. Small investors can take cues from the likes of global investment firm Nomura's model portfolio, as of September 20, while planning their investments. The portfolio and the allocation shared below also spells out the estimated earnings growth in the next two years. <table style="width: 392pt;"> </colgroup> <tbody><tr> <td class="xl63" style="height:15.75pt;width:139pt">Sector/Stock</td> <td class="xl64" style="border-left-width: initial; border-left-style: none; width: 97pt;">Portfolio weightage</td> <td class="xl64" style="border-left-width: initial; border-left-style: none; width: 156pt;">Earnings growth estimate FY19-21</td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Automobiles</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.40%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-13%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Mahindra &amp; Mahindra</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.20%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">18%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Minda Industries</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.20%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Materials</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.30%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">48%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Ultratech Cement</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.30%</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Consumption</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9.10%</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Financials</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">34.80%</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">ICICI Bank</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">10.80%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">140%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Axis Bank</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">7%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">69%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">ICICI Prudential Life Insurance</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.50%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">19%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">State Bank of India (SBI)</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.50%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">HDFC Bank</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">11%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">20%</td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Infrastructure/Industrials</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">13.10%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Larsen &amp; Toubro</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">6.50%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">17%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Concor</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">KNR Constructions</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.20%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">10%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">AIA Engineering</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.50%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">18%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">VA Tech Wabag</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.90%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">34%</td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">IT Services</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">12.60%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">HCL Technologies</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">5.20%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Mphasis</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.70%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Tech Mahindra</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.70%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3%</td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Oil &amp; Gas</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">14.20%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">GAIL</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.20%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Indraprastha Gas</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">21%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Reliance Industries</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">10%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">20%</td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Healthcare</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">6.60%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Dr Reddy's Labs</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.20%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Lupin</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.30%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">41%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Glenmark Pharma</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.10%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">11%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Apollo Hospitals</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">59%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Metals &amp; Mining</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Power/Utilities</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">4.30%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Telecom</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Others</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.70%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr></tbody></table> Interestingly, while there are 23 stocks in the portfolio, the allocation prescribed is heavily skewed towards a handful of stocks -- namely Reliance Industries, HDFC Bank, ICICI Bank, Axis Bank, L&amp;T and HCL Tech-- which make for nearly 50% of the allocation-- showing the sharp difference in the prospects of Indian companies. In terms of sectors, the highest allocation is to companies focussed on infrastructure construction. This may be a bet on government's willingness to spend more of taxpayers' money to boost economic growth. The zero weightage given to telecom may reflect the battered prospects of the sector amidst intense competition, piled up debt, and the imminent pressure of having to bid for 5G spectrum when the auction opens up in the coming weeks. Some stocks like ICICI Bank and Axis Bank are expected to more than double their profits in the next couple but that is largely due to the low-base effect in the last financial, which was marred by rising bad loans and provisions. The return to normalcy may look better when compared to the performance last year. The three IT stocks -- HCL Tech, Mphasis, and Tech Mahindra-- are expected to give the highest return on equity, above 20% each, according to the estimates in the model portfolio of stocks. This model portfolio may give one a perspective on how to invest their surplus profitably. SEE ALSO: <a href="https://www.businessinsider.in/corporate-tax-cut-in-india-is-subject-to-giving-away-these-exemptions-and-incentives/articleshow/71243364.cms" data-type="tilCustomLink" target="_blank">Indian companies have to forego these exemptions to enjoy the $6 billion benefit from lower taxes</a> <a href="https://www.businessinsider.in/cut-in-bank-deposit-rates-will-hurt-financial-savings-of-indian-families/articleshow/71075369.cms" data-type="tilCustomLink" target="_blank">Family savings in India face the threat of more interest rate cuts</a>

These five stocks make up for half of Nomura's model portfolio

<ul><li>India’s benchmark equity index Sensex has lost 33% since the start of the year due to the carnage caused by the spread of Covid-19 novel coronavirus pandemic across the world.</li><li>ICICI Direct Research has shortlisted a set of ten stocks where the price-to-earnings ratio is less than 10.</li><li>Price-to-earnings ratio is measure to value stocks and a multiple of less than ten could be a good time to buy these stocks.</li></ul>India’s benchmark equity index Sensex has lost 33% since the start of the year due to the carnage caused by the spread of Covid-19 novel coronavirus pandemic across the world. The stocks of India’s biggest companies, including those with the biggest market share in their respective sectors and segments, have bled out a lot of their value in the last three months. Broking firm ICICI Direct has put together a list of ten stocks that are currently trading at multiple of less than 10 compared to their potential earnings a year down the line i.e. you pay less than ten times the value of the company’s earnings per share, and that is considered to be cheap. “This clearly does not indicate a bottom but certainly indicates good entry points. Hence, investors can choose to stagger or invest lumpsum depending upon one risk appetite and time horizon,” the report added a note of caution. These are the ten stocks with a price-to-earnings ratio of less than 10, according to ICICI Direct Research. <table style="width: 255pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:120pt">Hero MotoCorp</td> <td class="xl66" style="border-left-width: initial; border-left-style: none; width: 135pt;">KSB</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Wipro</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">BEL </td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tech Mahindra</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">Gujarat Pipavav</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Mahanagar Gas</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">Kewal Kiran Clothing </td> </tr> <tr> <td class="xl69" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Heidelberg Cement</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">TV Today </td> </tr></tbody></table> The following are the prospects for some of the blue-chip stocks in this list. Hero Motocorp Every second motorcycle sold in India is made by Hero Motocorp. However, the stock has lost over 32% of its value in the last three months. <div type="image" title="Hero Moto share price" msid="75007445" hostid="261" caption="&amp;lt;p&amp;gt;Hero Motocorp has consistently given a 25% return on capital employed and an attractive dividend yield of about 5%, says ICICI Direct Research.&amp;lt;/p&amp;gt;"></div> Going forward, people’s purchasing power is likely to be hit in the aftermath of the coronavirus pandemic. But the company will be forced to increase prices of its products by over 10%, according to ICICI Direct, capping the potential sales growth even on the road to recovery. But the broking firm recommends that investors buy Hero Moto shares because it has consistently given a 25% return on capital employed and an attractive dividend yield of about 5%. Wipro One of India's top five tech services company has lost nearly a quarter of its share value in the last three months. “In the near term, the company may face revenue pressure due to exposure to affected verticals like energy vertical, lockdown, pricing pressure and slowdown in discretionary spend,” the report said about Wipro, which makes 31% of its revenue from its clients in banking and financial services. <div type="image" title="wipro share price chart" msid="75007417" hostid="261" caption="&amp;lt;p&amp;gt;Wipro, which makes 31% of its revenue from its clients in banking and financial services, is likely to benefit from greater thrust for digitisation and automation in the post-coronavirus world. The same is true for the likes of Infosys and TCS too but Wipro&amp;#39;s stock is relatively cheaper.&amp;lt;/p&amp;gt;"></div> However, there is likely to be a greater thrust of digitisation and automation in the post-coronavirus world and that could throw up a lot of opportunities for companies like Wipro, Infosys, and TCS. The advantage with buying the Wipro stock is beaten down a lot more than its peers and therefore has more headroom for gains. <table style="width: 193pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:94pt">Stock </td> <td class="xl66" style="border-left-width: initial; border-left-style: none; width: 99pt;">Last 3 months</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">TCS</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-22.30%</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Infosys</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-19%</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">HCL Tech</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-29.35%</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Wipro</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-27.44%</td> </tr> <tr> <td class="xl70" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Tech Mahindra</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-34.04%</td> </tr></tbody></table> Similar gains are likely in Tech Mahindra as well, which has also lost over 34% in the last three months. <div type="image" title="tech mahindra" msid="75007311" hostid="261" caption="&amp;lt;p&amp;gt;The recent correction in Tech Mahindra&amp;#39;s stock price factors in most of the near term negatives while the stock is attractively valued, ssays ICICI Direct Research.&amp;lt;/p&amp;gt;"></div> “The company's leadership in telecom vertical will make it a key beneficiary of vendor consolidation in the segment and 5G opportunities,” the report said about Tech Mahindra. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mcx-share-price-has-spiked-since-india-announced-lockdown-date-and-there-may-be-more/articleshow/74957005.cms" data-type="tilCustomLink" target="_blank">MCX is up 18% since coronavirus lockdown— and there may be more juice left in the stock</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-share-price-after-board-approves-mukesh-ambani-plan-to-increase-debt/articleshow/74954229.cms" data-type="tilCustomLink" target="_blank">Mukesh Ambani's Reliance Industries will add ₹25,000 crore to its mammoth pile of debt</a> <a href="https://www.businessinsider.in/business/corporates/article/share-price-of-hdfc-bank-axis-bank-sbi-and-others-with-biggest-personal-loans-home-loans-and-auto-loans/articleshow/74907443.cms" data-type="tilCustomLink" target="_blank">Top Indian banks with the biggest chunks of loans to individual borrowers⁠— and coronavirus has triggered a huge risk</a>

You Searched For "Tech Mahindra stocks" and got 12 results

Tech Mahindra shares surge as for the first time in over five years the management sees a 10% plus growth

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Tech Mahindra rallies more than 30% in 30 days as analysts seem bullish on 5G opportunities for the blue chip stock

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Tech Mahindra buys US-based Allyis India, Green Investments for $125 million

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These five stocks make up for half of Nomura's model portfolio

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