HSBC om Tech M ; Buy, TP Rs 1800

2Q results slightly better than expectations as TechM stays on track with best growth rate amongst top-tier peer group (top 8) • With EBIT margin target of 15% achieved, think TechM is likely to prioritise and sustain growth of 6-8% • TechM offers strong growth pick-up at reasonable valuation;

TECH MAHINDRA LIMITED

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