Tech Mahindra shares fell nearly 4.4% (trading down about 3.3%) after a sharp sell-off in US telecom stocks linked to SpaceX's planned acquisition of a spectrum firm

Mon 12 Oct 2026

Tech Mahindra telecom exposure

32.3%

Tech Mahindra stock fall

4.4%

Tech Mahindra current decline

3.3%

T-Mobile stock fall

13%

AT&T stock fall

9.8%

Heard on business television between 11:00:27 - 11:03:27 IST.

• US telecom stocks slid after SpaceX's reported plans to acquire a spectrum company from a private equity firm, raising competition concerns.
• T-Mobile fell 13%, AT&T fell about 9.8%, Verizon fell about 8.7% in the US market.
• These telecom firms give significant business to Indian IT companies like Tech Mahindra, which has about 32.3% revenue exposure to the telecom segment.
• Tech Mahindra shares fell nearly 4.4% and were trading down about 3.3% as sentiment turned negative due to this cross-read risk.

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