For Quick Alerts
For Daily Alerts

    Tech Mahindra Slumps 4% On Warning Of Decline In Margin And EBITDA


    Shares in Tech Mahindra slumped 6 per cent after the company said that a seasonally weak mobility business will be a drag on Q1 revenues and EBITDA.

    Tech Mahindra Slumps 4% On Warning Of Decline In Margin And EBITDA
    Tech Mahindra: Quotes, News
    BSE 789.85BSE Quote4.65 (-0.59%)
    NSE 789.85NSE Quote4.8 (-0.61%)
    The shares of the company were last quoting at Rs 488 on the National Stock Exchange, down almost 7 per cent. The stock also hit a 52-week low of Rs 486 today and has fallen from a high of Rs 748 in Feb 2015.

    The company said that H1B visa costs would be another drag on its performance.

    "Investment in digital technologies, R&D growth factories, will continue in accelerated mode", the company said in its release.

    Meanwhile, the company has said that organisation wide there is a renewed focus on improving operational levers, however, the impact of this would be visible only from Q3 FY 2016.

    Read more about: tech mahindra
    Story first published: Monday, June 29, 2015, 12:13 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more