Tech Mahindra stock fell over 4% before recovering slightly, tracking a sharp sell-off in US telecom stocks due to SpaceX spectrum acquisition news

Mon 12 Oct 2026

Stock decline today

4.4 percent

Current stock decline

3 percent

US telecom stocks decline

8 to 13 percent

Revenue share from US telecom clients

33 percent

Heard on business television between 12:20:55 - 12:23:55 IST.

• Tech Mahindra stock tumbled about 4.4% in morning trade, later recovering to trade down about 3%.
• Sell-off attributed to US telecom stocks AT&T, Verizon and T-Mobile falling 8 to 13% after SpaceX announced plans to acquire spectrum from a private equity firm, raising competition fears.
• Tech Mahindra has highest exposure among Indian IT firms to telecom sector, with about 33% of revenue from US telecom clients as per Q1 FY27.
• Reporter noted any risk to US telecom earnings has a direct negative read-through for Tech Mahindra.
• Tech Mahindra set to report Q2 earnings on Thursday, with demand commentary from telecom clients a key focus.

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