Tech Mahindra shares jump 3% after Q1 earnings beat estimates. What Nomura, Nuvama, other brokerages now expect

Tech Mahindra shares rose 3% to Rs 1,560 after Q1 FY27 earnings beat estimates, with consolidated net profit up 28% year-on-year at Rs 1,465 crore and revenue up 18% at Rs 15,712 crore. Constant currency revenue grew 6.6% year-on-year to $1.66 billion, EBIT margin expanded to 14.4%, and new deal wins TCV surged 33% to $1,078 million. Brokerages were broadly positive: Nomura raised its target to Rs 1,600 (Neutral), Nuvama lifted its target to Rs 1,800 (Buy), and Motilal Oswal noted improved FY27 growth visibility with expectations of 6-7% growth over the next couple of years.