Analyst calls Tech Mahindra a strong alpha play within IT sector, citing superior growth and reasonable valuation versus large-cap peers

Tue 6 Oct 2026

Tech Mahindra growth outlook

mid single digit growth

Historical large-cap growth comparison

5 to 6 percent growth

Historical peer valuation then

more than 20 times multiple

Current Tech Mahindra valuation

sub 20 times multiple

Heard on business television between 10:01:04 - 10:04:04 IST.

• Analyst (Rakesh) said Tech Mahindra is on track to deliver mid single-digit growth, outperforming other large-cap IT peers who are delivering little organic growth.
• Countered the view that Tech Mahindra trades at a premium valuation, saying comparison should be made to when large caps delivered similar 5-6% growth and traded above 20x multiple.
• Noted Tech Mahindra is still trading below 20x multiple despite stronger growth, implying further valuation upside.
• Said valuation looks reasonable given the growth outperformance versus peers.

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