Yesterday Bloody Day so all investor , Who invest in Tech Mahindra Share

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Tech Mahindra Ltd on Monday plunged as much as 17%, its steepest fall in over nine years, after the company reported weaker then expected earnings.
The stock touched a low of Rs357.60 a share—a level last seen on 8 October 2013 and fell as much as 16.7%, its steepest fall since 22 January 2008.
The scrip, erased some of the early losses and closed at Rs379.30, down 11.66% on BSE.
So far this year, it has fallen 22.2%.
Consolidated profit for the quarter ended 31 March, fell 31.2% to Rs590 crore. Analysts on average had expected March-quarter consolidated profit of Rs783 crore, Thomson Reuters data showed. Revenue was up 9% to Rs74.95 crore.
Ebit margins dropped 420 basis points quarter on quarter to 8.2% from 12.6% of analyst estimates. The management has contributed this fall due to restructuring of few contracts in LCC business, realignment in few deals in legacy business and currency appreciation. The margin drop was heightened due to the deferral of license sales in the Comviva operations.
“The fall in Ebit margin was related to one off restructuring and currency, pricing cuts in a large account would likely take time to recover. Growth has stabilized and even though margin should revive from current levels, this would be much slower than our previous estimates and remains a key concern,” said Jefferies India in a note to its investors.
The brokerage house has downgraded the stock to “Hold” from “Buy” and cut its target price to Rs460 a share from Rs580 a share.
Broking firm Nomura has cut its revenues target marginally and Ebit margins by 170/80 bps over fiscal year 2018-19 on rupee reset to 65 a dollar and the fourth quarter margin miss. The brokerage firm said that its target for price earning moves down to 12 multiple for fiscal year 2019 earning per share of Rs36.10 to reflect lower margins and return ratios and risks from higher acquisitive focus.
It maintained the neutral rating on the stock with reduced target price of Rs435 a share.

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