May 29, 2017 / 5:04 AM / 2 months ago

BUZZ-India's Tech Mahindra hits over 3-1/2-yr low on Q4 profit miss

1 Min Read

** Software services provider Tech Mahindra Ltd falls as much as 16.9 pct to 356.65, its lowest since October 2013

** Company posted a 33 pct fall in consolidated profit for the March-qtr, missing analysts' estimate

** "Muted commentary and lack of confidence suggests that a pickup in revenue and margin is likely skewed towards 2HFY18," Jefferies analysts write

** Stock posts biggest intraday pct fall since February 2009

** Stock down 12.2 pct this year as of last close on Friday

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