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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.
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.
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