Tech Mahindra slips over 2% after Q2 result; should you buy the stock?

The company, on Friday, reported a 5.3 per cent year-on-year (YoY) decline in its net profit at Rs 1,064 crore for the September quarter.

Shares of Tech Mahindra, the Pune-headquartered information technology (IT) services company, declined as much as 2.6 per cent to Rs 825.70 apiece on the BSE in the early trade on Monday as investors booked profit after the company posted better-than-expected quarterly numbers for the second quarter of the current fiscal year (Q2FY21).

The stock, however, trimmed its losses later and was trading 0.88 per cent lower at Rs 840.60 on the BSE at 09:55 am. In comparison, the S&P BSE Sensex was trading 0.19 per cent lower at 40,606.66 levels. 

The company, on Friday, reported a 5.3 per cent year-on-year