Tech Mahindra's shares drop despite Q1 profit surge, as brokerages offer mixed ratings.

Tech Mahindra's shares fell 2% despite reporting a 34% increase in Q1 profit to ₹1,140.6 crore, missing revenue expectations. Brokerages have mixed views: Motilal Oswal and Nomura maintain a 'Buy' rating with target prices of ₹2,000 and ₹1,810 respectively, while others like Nuvama and Morgan Stanley suggest 'Reduce' or 'Underweight' ratings. The company faces challenges like weak revenue growth and tough economic conditions.