Tech Mahindra shares tank nearly 6% after announcement of earnings
The Hindu
Tech Mahindra's shares dropped 6% due to a 1.2% revenue decline, making it the biggest laggard in Sensex and Nifty.
Shares of IT services firm Tech Mahindra slumped nearly 6% on July 26 after the company's revenues declined by 1.2% during the June quarter.
The stock tanked 5.52% to ₹1,445.50 on the Bombay Stock Exchange (BSE). At the National Stock Exchange (NSE), it tumbled 5.60% and was trading at ₹1,444.25 per share.
The stock emerged as the biggest laggard among the Sensex and Nifty firms. Tech Mahindra on July 25 reported a 23% jump in consolidated net profit to ₹851 crore for the June 2024 quarter.
The Mahindra Group company posted a net profit of ₹692.5 crore in the past year. The company, which began a three-year strategic restructuring under a new head recently, saw its revenues decline by 1.2 % to ₹13,005 crore during the reporting quarter.
The new managing director and chief executive Mohit Joshi said the performance in FY25 will be better than the previous period.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.
India reduces Russian oil imports by 38% in October 2025, marking the sharpest decline in value and volume yet.
Suzlon announces three new AI-enabled smart blade factories, expanding its manufacturing footprint to 20 facilities in India.
Odisha Government terminates Silicon Tech Lab's empanelment for involvement in a recruitment scam and service agreement violations.
Worli, Mumbai, dominates India’s ultra-luxury apartment market, accounting for 40% of transactions worth ₹5,500 crore in two years.
IndiGo faces disruptions due to a hiring freeze, prompting pilots' body to urge regulatory intervention for safe operations.
Nvidia CEO Jensen Huang met separately with U.S. President Donald Trump and Republican senators Wednesday
Rupee falls to 90.43 against the dollar amid RBI's restrained intervention and high importer demand, causing market concerns.
Meta’s poaching of Apple's Alan Dye underscores its push to expand consumer hardware beyond its smart glasses
Airbus orders upgrades for 6,000 A320 aircraft after a JetBlue incident raises concerns about software vulnerability to solar radiation.