{
  "id": 14877714,
  "title": "Tech Mahindra shares jump 7.6% after Q2 results, Jefferies upgrades stock",
  "url": "https://urgent.news/2026/10/16/tech-mahindra-shares-jump-7-6-after-q2-results-jefferies-upgrades",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-16T05:29:37.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/tech-mahindra-shares-jump-76-after-q2-results-jefferies-upgrades-stock/article71591220.ece"
  },
  "original_language": "en",
  "account": "Tech Mahindra's shares surged by over 7 percent following the IT services firm's strong Q2 results, as reported on Monday. The company's consolidated net profit surged 32.8 percent year-on-year to ₹1,586 crore, outpacing the 15.6 percent revenue growth. The impressive profit growth caught the attention of brokerages, leading to differing opinions on Tech Mahindra's stock. Jefferies upgraded its rating to \"hold\" from \"underweight\" and raised its target price to ₹1,540, citing an improving growth outlook and visible turnaround. Motilal Oswal reiterated its buy call and revised its target price to ₹1,950, implying an 18 percent upside. Kotak Securities maintained its buy rating and increased its target price to ₹1,870. Conversely, Citi remained cautious, retaining its sell rating and target price of ₹1,355. The stock traded at ₹1,764.40, a 7 percent increase, from its previous close of ₹1,650 at 10:32 am. The interim dividend of ₹15 per share was declared for FY27, equivalent to a 300 percent increase. Additionally, Tech Mahindra approved a 1:1 bonus issue subject to shareholder approval.",
  "summary": "At 10.32 am, the stock traded 7% higher at 1,764.40 on the NSE after rising to ₹1,776.50 from ₹1,650 previous close",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 7,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "India's Tech Mahindra second-quarter revenue beats estimate",
        "url": "https://urgent.news/2026/10/15/indias-tech-mahindra-second-quarter-revenue-beats-estimate",
        "published": "2026-10-15T11:35:08.000Z"
      },
      {
        "outlet": "Hindu BusinessLine",
        "title": "Q2 Results Highlights, 15 Oct: Wipro PAT rises 9% year-on-year; Tech Mahindra profit jumps 32.7%; Nestlé shares tank after Q2 results; IIFL Finance, IRFC, Polycab, KVB and HDFC AMC report higher PAT; Heritage Foods posts decline",
        "url": "https://urgent.news/2026/10/15/q2-results-highlights-15-oct-wipro-pat-rises-9-year-on-year-tech",
        "published": "2026-10-15T13:43:12.000Z"
      },
      {
        "outlet": "Business Standard IN",
        "title": "Tech Mahindra Q2 profit rises 32.7% to ₹1,586 crore; revenue up 15.6%",
        "url": "https://urgent.news/2026/10/15/tech-mahindra-q2-profit-rises-32-7-to-1-586-crore-revenue-up-15-6",
        "published": "2026-10-15T14:18:01.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Tech Mahindra keeps margin target after quarterly revenue beat",
        "url": "https://urgent.news/2026/10/15/tech-mahindra-keeps-margin-target-after-quarterly-revenue-beat",
        "published": "2026-10-15T14:21:36.000Z"
      },
      {
        "outlet": "Economic Times Tech",
        "title": "Flipkart ex-staff push for Esop buyout; Wipro, Tech Mahindra’s Q2 report",
        "url": "https://urgent.news/2026/10/16/flipkart-ex-staff-push-for-esop-buyout-wipro-tech-mahindras-q2-report",
        "published": "2026-10-16T01:59:31.000Z"
      },
      {
        "outlet": "Times of India",
        "title": "Tech Mahindra jumps 8%, IT firm adds Rs 11,000 crore to market cap after Q2 earnings",
        "url": "https://urgent.news/2026/10/16/tech-mahindra-jumps-8-it-firm-adds-rs-11-000-crore-to-market-cap",
        "published": "2026-10-16T07:22:25.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}