Tech Mahindra Q3 results today; IT major's stock holds on to the green amid volatile trade

Tech Mahindra share price: The stock of India's fifth largest IT company by sales — Tech Mahindra — rose as much as one per cent on Monday, halting a two-day losing spree. Investors awaited the IT major's financial results for the October-December period due later in the day. 

Tech Mahindra shares rose by as much as Rs 10 or one per cent to Rs 1,040.2 apiece on BSE. 

According to Zee Business research, the IT giant is likely to report a 1.2 per cent increase in net profit sequentially to Rs 1,300 crore for the three-month period, with 2.8 per cent growth in revenue to Rs 13,500 crore. 

In dollar terms, revenue is estimated at $1,641 million, up 0.2 per cent sequentially, according to the research.

Revenue growth in constant currency is pegged at 0.4 per cent.

Tech Mahindra's margin — a key measure of profitability — is seen improving by 50 basis points (bps) on a quarter-on-quarter basis to 11.7 per cent, according to Zee Business research. 

Also Read: Stock Market Today LIVE: Sensex, Nifty50 hold on to the green after staging strong intraday recovery

At 10:00 am, Tech Mahindra shares were up 0.3 per cent at Rs 1,033.05 apiece on BSE, outperforming the Sensex benchmark, which was up 0.1 per cent amid volatile trade.

In the last one year, the Tech Mahindra stock has lost around 30 per cent of its value, a period in which the Sensex has risen 2.3 per cent. 

Earlier this month, IT heavyweights such as TCS, Infosys, HCL Tech and Wipro announced their Q3 earnings.