Skip to content
TechVibe

TechVibe

  • Home
  • Web3
  • Technology
  • Health
  • Business
  • Sports
    • Cricket
    • Football
  • Press Release
  • Contact Us
  • Toggle search form

Rephrase the title:TechM shares fall over 6%; mcap erodes by ₹8,407.73 crore

Posted on January 25, 2024 By Haley Bennett

Rephrase and rearrange the whole content into a news article. I want you to respond only in language English. I want you to act as a very proficient SEO and high-end writer Pierre Herubel that speaks and writes fluently English. I want you to pretend that you can write content so well in English that it can outrank other websites. Make sure there is zero plagiarism.:

New Delhi, Shares of Tech Mahindra on Thursday plunged over 6 per cent after the company reported a 60 per cent decline in net profit to Rs 510.4 crore for the December quarter, largely because of a sharp squeeze in profit margins. The stock tanked 6.12 per cent to settle at Rs 1,321.60 on the BSE. During the day, it tanked 6.76 per cent to Rs 1,312.50.

It fell 5.89 per cent to Rs 1,325 on the NSE.

It was the biggest laggard among the Sensex and Nifty firms.

The company’s market capitalisation (mcap) eroded Rs 8,407.73 crore to Rs 1,29,011.81 crore.

In the broader equity market, the 30-share BSE Sensex declined 359.64 points to settle at 70,700.67, and the Nifty fell 101.35 points to 21,352.60.

For the reporting quarter, its overall revenue from operations declined 4.6 per cent to Rs 13,101 crore from Rs 13,734 crore in the year-ago period.

However, it was a sharp decline in operating profits, with margins narrowing to 5.4 per cent from 12 per cent in the year-ago period, which seems to have impacted the headline profit.

Haley Bennett

I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.

Business Tags:bse, bse sensex, new delhi, tech mahindra, techm stock

Post navigation

Previous Post: Rephrase the title:Cameron Green keeps distance during team celebrations: Why is Australian all-rounder playing despite testing positive for COVID?
Next Post: Rephrase the title:Real Madrid transfer news: January 2024 window targets, signings, sales amid Kylian Mbappe rumours

Related Posts

Cipla’s stock drops more than 8% and market capitalization decreases by Rs 8,319 crore Business
Rephrase the title:It was all worth it, feel I am luckiest person: Sculptor Arun Yogiraj on Ram Lalla idol consecration Business
Rephrase the title:IIFL Finance shares bounce back after two days of sharp fall Business
Rephrase the title:JM Financial says will fully cooperate with Sebi in probe into public issue of debt securities Business
Rephrase the title:India's industrial production grows 3.8% in January Business
Rephrase the title:Fintech unicorn Incred logs Rs 109 cr profit in FY23, revenue up over 77% Business

Recent Posts

  • Aivora’s Voucher Alpha: The New Trading Rewards System is Here
  • Aivora Launches Unique Application Features: Voucher & VIP Zone
  • How to optimize your trading on Aivora Exchange
  • Aivora Airdrop Guide – The new generation CEX exchange with AI technology
  • Aivora Exchange Overview

Categories

  • Business
  • Cricket
  • Football
  • Health
  • Press Release
  • Technology
  • Web3

About Us

Welcome to TechVibe9, where the rhythm of technology meets innovation! We are a group of tech enthusiasts on a mission to uncover and showcase the latest in the tech world.

Mail Us : support@techvibe9.com

Latest Post

  • Aivora’s Voucher Alpha: The New Trading Rewards System is Here
  • Aivora Launches Unique Application Features: Voucher & VIP Zone
  • How to optimize your trading on Aivora Exchange

Helpful Links

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions

Copyright © TechVibe9

Powered by PressBook Masonry Dark