Tech Mahindra declines 8% on disappointing Q4 result; what brokerages say

Revenue for the quarter stood at Rs 9,490 crore, a growth of 6.7 per cent YoY, though it fell 1.7 per cent sequentially.

Shares of Tech Mahindra declined as much as 7.8 per cent to Rs 503.45 apiece on the BSE on Monday after the company on Thursday posted lower-than-expected numbers for the quarter ended March 2020. 

At 10:26 am, the stock was trading over 6.5 per cent lower at Rs 510.25 as against nearly 5 per cent fall in the benchmark S&P BSE Sensex.

The information technology (IT) services company on Thursday missed the profit estimates for Q4FY20 on higher employee costs and a one-time impairment charge even as the company said it was expecting a recovery in demand in the medium