Vineet Nayyar, executive vice chairman, Tech Mahindra, says there is increased automation in the industry to reduce the labour-intensive nature of the work and managements will have to need to work to adapt these changes.
The businesses around us are undergoing transformation and if a business is under pressure, budgets will get impacted believes, Vineet Nayyar, executive vice chairman, Tech Mahindra .
Nayyar views come on the back of reports that three major global investment banks are likely to remove discretionary IT spending allocation in their budget for 2015 .
In a research report, brokerage house Motilal Oswal says: “(Companies’) budgets will be influenced to some degree by the prevailing situation, volatility in which is reflected in fall in commodity prices as well as multiple global currencies v/s the US dollar in recent months. If the situation improves gradually through the course of the year, the velocity and extent of discretionary spending could pick up.”
Nayyar says there is increased automation in the industry to reduce the labour-intensive nature of the work and managements will have to need to work to adapt these changes.
Furthermore, Nayyar says the company will continue to be focused on engineering and telecom business.
Transcript to follow soon.
Tech Mahindra stock price
On December 23, 2014, at 11:20 hrs Tech Mahindra was quoting at Rs 2588.70, down Rs 1.3, or 0.05 percent. The 52-week high of the share was Rs 2719.00 and the 52-week low was Rs 1677.65.
The company’s trailing 12-month (TTM) EPS was at Rs 108.82 per share as per the quarter ended September 2014. The stock’s price-to-earnings (P/E) ratio was 23.79. The latest book value of the company is Rs 364.54 per share. At current value, the price-to-book value of the company is 7.10.