Tech Mahindra hits new high on healthy growth outlook, 5G opportunities

Shares of Tech Mahindra hit a new high of Rs 909, up 4 per cent, on the BSE on Tuesday on expectation that growth could accelerated going forward based on large deal pipeline and 5G opportunities. The stock surpassed its previous high of Rs 890, touched on November 24, 2020.

In the virtual analyst meet, Tech Mahindra highlighted that it is expecting an acceleration in growth based on large deal pipeline (73 large deal potential), healthy pipeline (20 per cent pipeline growth in six months), acceleration in digital technologies and 5G opportunities.

The management believes there is a large multi-billion dollar opportunity in 5G network services (christened Network Services 3.0), and expects the segment to grow at a faster pace than the overall Communications vertical.