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Buy Tech Mahindra and Escorts; Sell Ajanta Pharma and NTPC

Reliance Securities | 23 Feb, 2018  | Follow Author | Add to my Favourites 
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Tech Mahindra’s stock price rose by 1% in yesterday’s trade, while the benchmark indices Nifty ended with 0.1% of cut.

Tech Mahindra’s Enterprise Business is expected to be the major revenue growth driver over the next few years, led by BFSI and Retail, apart from Digital initiatives; this business clocked healthy 4.2% QoQ revenue growth in 3QFY18.

The company appears on track to perform well on margins in the near-term, with a 173bps QoQ expansion seen in 3QFY18, and management alluding to possibility of further expansion in the near-term.

We have a BUY rating on Tech Mahindra, with a target price of Rs750.

Positional Pick


Fresh long position can be initiated in the range of Rs162-164 for the target of Rs150 with a strict stop loss of Rs167.

Intraday Picks


For today’s trade, long position can be initiated inthe range of Rs863- 857 for the target of Rs890-900 with a strict stop loss of Rs849.


For today’s trade, long position can be initiated in the range of Rs1360-1370 for the target of Rs1320-1300 with a strict stop loss of Rs1385

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170.15 -0.35
170.05 -0.90
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About Reliance Securities

Reliance Securities, the broking arm of Reliance Capital, is one of the India’s leading retail broking houses, providing customers with access to equities, derivatives, currency, IPOs, mutual funds, bonds, and corporate FDs amongst others. The large array of financial offerings helps customers fulfilling their investment objectives on one platform. Focus on timely & error-free execution represents its core strength. Their best in class research offerings, high degree of compliance with stock exchange regulations, ethical business standards, & strong risk management capabilities; Reliance Securities positions itself amongst strong & innovative brands in the financial services space.

For more information please write in to [email protected]

Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.


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