Buy Tech Mahindra, target Rs 600 : Angel Broking

Angel Broking has a buy call on Tech Mahindra Ltd. with a target price of Rs 600 .The current market price of Tech Mahindra Ltd. is Rs 443.35 The brokerage gave a year for Tech Mahindra Ltd. price to reach the defined target. Angel Broking said the company is posted sales of $107 million (versus the expected $106 million), registering a QoQ growth of 4%. It said that in Constant Currency terms, the company posted a QoQ growth of 5%. It expects a CAGR of 10.6% in USD and 11.5% in INR revenue over FY16-18. It expects PAT to grow at a CAGR of 11.4% over FY16-18.