November 22, 2018 / 5:19 AM / 8 months ago

BUZZ-India's Tech Mahindra rises as analysts positive after meet with co mgmt

** Tech Mahindra Ltd’s shares rise as much as 2.8 pct to 710 rupees, in their biggest intraday pct gain since Nov 15

** Co hosted its annual analyst meeting on Wednesday and at least three brokerages had positive commentary

** Jefferies said co expects significant revenue boost from 5G to come beyond FY20; also reflected in its 5-6 pct growth target for communications business

** Co’s 8-10 pct target growth for enterprise implies overall growth of 7.5 pct next year, largely in line with our estimate - Jefferies

** Jefferies maintains “hold” and raises TP to 770 rupees from 690.65 rupees

** Morgan Stanley said: “there were no surprises in the analyst meeting”; management maintained positive outlook for deal win momentum and margins

** Co expects to maintain growth momentum of 8-10 pct yoy in the enterprise unit for 2020 - Morgan Stanley

** Morgan Stanley adds that even with rupee appreciation, they see limited downside risks to co’s estimates

** About 1.4 mln shares change hands vs 30-day moving avg of about 3.3 mln shares

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