Page 5 - 1411_Value Plus june 2016

Tech Mahindra Ltd Buy TECHNICAL

CMP: ` 540 (As on 01st Jun, 2016) PICK
Buy: ` 545-520
Target Price: ` 580-610 Tech Mahindra Limited provides information technology
Stop-Loss: ` 490 services and solutions in India, the Americas, Europe,
and internationally. It offers telecom services, consulting,
Tech Mahindra Ltd application outsourcing, infrastructure outsourcing,
engineering services, BPO, platform solutions, and mobile
value added services. The company operates mainly into
two sectors telecom business and enterprise solutions
business. The telecom business provides consulting-
led integrated portfolio services to customers, which
are telecom equipment manufacturers, telecom service
providers and IT infrastructure services, business process
outsourcing, as well as enterprise services of information
technology and IT-enabled services delivered through
a network of multiple locations around the globe. The
company's enterprise solutions business provides IT
services, including IT enabled services, application
development and maintenance, consulting and enterprise
business solutions, extended engineering solutions and
infrastructure management services. Its client list includes
big companies like British Telecom, AT&T, Motorola and
Alcatel-Lucent are among others.

Technical Outlook:

On the daily chart, the stock has given a strong breakout
of ascending triangle with good volumes. Further the
momentum indicators are gaining momentum.

Hence we recommend one to buy this stock at Rs 545 or
on a decline up to Rs 520 with a stop loss of Rs 490 for a
target of Rs 580 – 610 levels.

5 ARIHANT CAPITAL ¡ JUNE 2016