−17% from the high · +18% from the low
Long build-up into a 26-day expiry: futures OI +2.4% on a +0.6% day, the most call OI sits at 1,540, the most put OI at 1,540, max pain 1,540.
TECHM futures closed at ₹1,533.70, +0.1% to spot, with 85% of open interest in the 27 Oct contract, and the 1,540 straddle prices a move of about ±6.9% by expiry.
| Expiry | Close ₹ | Basis ₹ · % | Annualised % | OI lots · on the day | Share of OI % | Contracts traded |
|---|---|---|---|---|---|---|
| 27 Oct26 days | ₹1,533.70 | +0.70+0.1% | +0.64% | 25,000▲ +1.7% · +420 lots | 85 | 6,200 |
| 23 Nov53 days | ₹1,534.50 | +1.50+0.1% | +0.67% | 4,500▲ +6.1% · +260 lots | 15 | 410 |
| 29 Dec89 days | ₹1,519.90 | −13.10−0.8% | −3.5% | 7.0▲ +133.3% · +4.0 lots | 0.02 | 7.0 |
15% of futures OI sits beyond the 27 Oct contract · 37 of 49 listed contracts traded · 27,000 option contracts changed hands
The 1,540 straddle closed at ₹105.65 (call 49.35 + put 56.30), pricing a move of about ±6.9% by the 27 Oct expiry. In the last 253 windows of 19 sessions, TECHM moved more than that 88 times.
After the last 8 bulletins, TECHM closed higher five sessions later in 8 of 8.
| Bulletin | Day of the news | 1 session later | 5 sessions later | Futures OI on the day |
|---|---|---|---|---|
| 20 JulIndian stock markets open lower amid global tensions | 0.0%Nifty −0.2% · +0.2 pp | ▼ −1.0%Nifty −1.0% · 0.0 pp | ▲ +3.7%Nifty −1.0% · +4.8 pp | ▲ +0.4%short build-up |
| 20 JulNifty breaks 24,300 resistance amid strong bank earnings | ▲ +0.2%Nifty −0.4% · +0.6 pp | ▲ +0.2%Nifty −0.6% · +0.8 pp | ▲ +0.1%Nifty −1.4% · +1.5 pp | ▼ −3.2%short covering |
| 19 JulTech Mahindra earnings miss forecasts, shares rise 8.1% | ▲ +0.2%Nifty −0.4% · +0.6 pp | ▲ +0.2%Nifty −0.6% · +0.8 pp | ▲ +0.1%Nifty −1.4% · +1.5 pp | ▼ −3.2%short covering |
| 17 JulTech Mahindra shares rise on strong Q1 results | ▲ +0.2%Nifty −0.4% · +0.6 pp | ▲ +0.2%Nifty −0.6% · +0.8 pp | ▲ +0.1%Nifty −1.4% · +1.5 pp | ▼ −3.2%short covering |
| 10 JulIT firms face earnings pressure amid AI and geopolitical risks | ▲ +3.4%Nifty 0.0% · +3.4 pp | ▲ +2.0%Nifty −0.6% · +2.7 pp | ▲ +8.4%Nifty +0.1% · +8.2 pp | ▲ +1.4%long build-up |
| 2 JulIndian markets rise as tech stocks drive gains | ▼ −0.8%Nifty +0.4% · −1.2 pp | ▼ −1.0%Nifty +1.1% · −2.1 pp | ▲ +2.4%Nifty +0.1% · +2.2 pp | ▲ +0.4%short build-up |
| 1 JulIT stocks face worst performance in 18 years | ▲ +4.3%Nifty +0.7% · +3.6 pp | ▲ +3.5%Nifty +1.1% · +2.4 pp | ▲ +4.7%Nifty −0.2% · +4.9 pp | ▲ +0.1%long build-up |
| 1 JulTech Mahindra partners with Microsoft for AI-driven 5G | ▼ −3.0%Nifty +0.6% · −3.6 pp | ▲ +1.2%Nifty +1.3% · −0.1 pp | ▲ +1.7%Nifty +0.1% · +1.6 pp | ▲ +1.7%short build-up |
Revenue ₹15,712 cr, +18% on a year earlier; profit ₹1,486 cr, +32% in the Jun 2026 quarter, consolidated.
| Quarter | Revenue ₹ cr | Revenue YoY | Profit ₹ cr | Profit YoY | EPS ₹ | Market on the day |
|---|---|---|---|---|---|---|
| Jun 2026filed 16 Jul · audited | ₹15,712 cr | ▲ +18% | ₹1,486 cr | ▲ +32% | 16.50 | ▲ +4.1%Nifty +1.1% · +3.0 pp |
| Mar 2026filed 22 Apr · audited | ₹15,076 cr | ▲ +13% | ₹1,356 cr | ▲ +19% | 15.24 | ▼ −2.8%Nifty −0.8% · −2.0 pp |
| Dec 2025filed 16 Jan · audited | ₹14,393 cr | ▲ +8.3% | ₹1,119 cr | ▲ +13% | 12.64 | ▲ +2.9%Nifty −0.4% · +3.3 pp |
| Sept 2025filed 14 Oct · audited | ₹13,995 cr | ▲ +5.1% | ₹1,202 cr | ▼ −4.4% | 13.46 | ▼ −0.6%Nifty +0.7% · −1.3 pp |
| Jun 2025filed 16 Jul · audited | ₹13,351 cr | ▲ +2.7% | ₹1,129 cr | ▲ +31% | 12.86 | ▼ −2.8%Nifty −0.4% · −2.4 pp |
| Mar 2025filed 24 Apr · audited | ₹13,384 cr | ▲ +4.0% | ₹1,142 cr | ▲ +72% | 13.15 | ▲ +1.2%Nifty −0.9% · +2.0 pp |
| Dec 2024filed 17 Jan · audited | ₹13,286 cr | ▲ +1.4% | ₹989 cr | ▲ +89% | 11.08 | ▲ +0.9%Nifty +0.6% · +0.3 pp |
| Sept 2024filed 19 Oct · audited | ₹13,313 cr | ▲ +3.5% | ₹1,257 cr | ▲ +150% | 14.10 | ▲ +0.8%Nifty −0.3% · +1.1 pp |
| Year | Revenue ₹ cr | Revenue YoY | Profit ₹ cr | Profit YoY | EPS ₹ |
|---|---|---|---|---|---|
| FY26to Mar 2026 | ₹56,815 cr | ▲ +7.2% | ₹4,806 cr | ▲ +13% | 54.20 |
| FY25to Mar 2025 | ₹52,988 cr | ▲ +1.9% | ₹4,253 cr | ▲ +77% | 47.93 |
| FY24to Mar 2024 | ₹51,995 cr | — | ₹2,397 cr | — | 26.60 |
TECHM trades at 27 times trailing earnings against 17 for its industry, 5.0 times book value, revenue +11% over twelve months, a 6.7% dividend yield, market cap ₹1,50,000 cr.
| Stock | Market cap ₹ | P/E | P/B | Close ₹ |
|---|---|---|---|---|
| TCSTata Consultancy Services Limited | 7,50,000 cron 1 Oct | 15consolidated | 6.9 | ₹2,075.00 |
| INFYInfosys Limited | 4,20,000 cron 1 Oct | 14consolidated | 4.5 | ₹1,035.00 |
| HCLTECHHCL Technologies Limited | 3,40,000 cron 1 Oct | 19consolidated | 4.5 | ₹1,243.10 |
| WIPROWipro Limited | 1,60,000 cron 1 Oct | 13consolidated | 1.8 | ₹159.35 |
| TECHMTech Mahindra Limited | 1,50,000 cron 1 Oct | 27consolidated | 5.0 | ₹1,533.00 |
| LTMLTM Limited | 1,20,000 cron 1 Oct | 23consolidated | 4.9 | ₹4,007.00 |
| PERSISTENTPersistent Systems Limited | 85,000 cron 1 Oct | 44consolidated | 11 | ₹5,367.00 |
| COFORGECoforge Limited | 81,000 cron 1 Oct | 37consolidated | 8.4 | ₹1,826.00 |
| MPHASISMphasiS Limited | 43,000 cron 1 Oct | 23consolidated | 4.0 | ₹2,250.20 |
| HEXTHexaware Technologies Limited | 30,000 cron 1 Oct | — | 4.5 | ₹490.45 |
| TATAELXSITata Elxsi Limited | 19,000 cron 1 Oct | 29standalone | 6.3 | ₹3,092.80 |
| KPITTECHKPIT Technologies Limited | 13,000 cron 1 Oct | 23consolidated | 3.8 | ₹492.00 |
| FRACTALFractal Analytics Limited | 13,000 cron 1 Oct | — | 4.0 | ₹727.35 |
| RATEGAINRategain Travel Technologies Limited | 10,000 cron 1 Oct | — | 5.0 | ₹840.65 |
| ZENSARTECHZensar Technologies Limited | 9,900 cron 1 Oct | — | 2.1 | ₹434.35 |
| INTELLECTIntellect Design Arena Limited | 8,600 cron 1 Oct | — | 2.7 | ₹610.95 |
| BSOFTBIRLASOFT LIMITED | 7,500 cron 1 Oct | — | 1.8 | ₹269.75 |
| SONATSOFTWSonata Software Limited | 7,100 cron 1 Oct | — | 3.7 | ₹254.05 |
| NEWGENNewgen Software Technologies Limited | 6,500 cron 1 Oct | — | 3.7 | ₹456.35 |
| LATENTVIEWLatent View Analytics Limited | 4,900 cron 1 Oct | — | 2.7 | ₹234.50 |
| MASTEKMastek Limited | 4,800 cron 1 Oct | — | 1.6 | ₹1,555.60 |
| HAPPSTMNDSHappiest Minds Technologies Limited | 4,600 cron 1 Oct | — | 2.8 | ₹304.70 |
| 63MOONS63 moons technologies limited | 3,700 cron 1 Oct | — | 1.0 | ₹802.25 |
| AURIONPROAurionpro Solutions Limited | 3,400 cron 1 Oct | — | 1.9 | ₹607.80 |
| SAKSOFTSaksoft Limited | 1,800 cron 1 Oct | — | 2.4 | ₹139.35 |
| SILVERTUCSilver Touch Technologies Limited | 1,800 cron 1 Oct | — | 10 | ₹138.70 |
| ACCELYAAccelya Solutions India Limited | 1,600 cron 1 Oct | — | 6.5 | ₹1,094.20 |
| NINSYSNINtec Systems Limited | 1,500 cron 1 Oct | — | 16 | ₹804.65 |
| MCLOUDMagellanic Cloud Limited | 1,400 cron 1 Oct | — | 2.1 | ₹24.25 |
| INFOBEANInfoBeans Technologies Limited | 1,400 cron 1 Oct | — | 3.4 | ₹143.60 |
| XCHANGINGXchanging Solutions Limited | 670 cron 1 Oct | — | 1.7 | ₹59.75 |
| SOFTTECHSofttech Engineers Limited | 660 cron 1 Oct | — | 3.9 | ₹474.30 |
| INNOVANAInnovana Thinklabs Limited | 600 cron 1 Oct | — | 2.1 | ₹290.20 |
| KSOLVESKsolves India Limited | 570 cron 1 Oct | — | 19 | ₹241.15 |
| CSMCSM Technologies Limited | 490 cron 1 Oct | — | 4.7 | ₹94.25 |
| MINDTECKMindteck (India) Limited | 480 cron 1 Oct | — | 1.6 | ₹150.95 |
| XTGLOBALXtglobal Infotech Limited | 380 cron 1 Oct | — | 1.8 | ₹28.70 |
| TREJHARATREJHARA SOLUTIONS LIMITED | 320 cron 1 Oct | — | 1.1 | ₹131.65 |
| DRCSYSTEMSDRC Systems India Limited | 190 cron 1 Oct | — | 1.7 | ₹13.00 |
| EMPOWEREmpower India Limited | 180 cron 1 Oct | — | — | ₹1.55 |
| TRIGYNTrigyn Technologies Limited | 160 cron 1 Oct | — | 0.20 | ₹51.80 |
| SECMARKSecMark Consultancy Limited | 140 cron 1 Oct | — | 6.1 | ₹137.50 |
| RSSOFTWARER. S. Software (India) Limited | 78 cron 1 Oct | — | 2.5 | ₹30.05 |
| CGVAKCG Vak Software & Exports Limited | 74 cron 1 Oct | — | — | ₹147.25 |
| CURAACura Technologies Limited | 72 cron 17 Sept | — | 11 | ₹72.95 |
| ORCHASPOrchasp Limited | 44 cron 1 Oct | — | 0.36 | ₹1.30 |
| QUINTEGRAQuintegra Solutions Limited | 3.6 cron 1 Oct | — | — | ₹1.35 |
| 3IINFOLTD3i Infotech Limited | — | — | — | — |
| CALSOFTCalifornia Software Company Limited | — | — | — | — |
| CTECambridge Technology Enterprises Limited | — | — | — | — |
| CYBERTECHCybertech Systems And Software Limited | — | — | — | — |
| EQUIPPPEquippp Social Impact Technologies Limited | — | — | — | — |
Promoters hold 35.0%, foreign portfolio investors 18.7%, mutual funds 19.1% and insurance companies 14.8%, as filed for the quarter to 30 Jun.
| Category | 30 Jun | 31 Mar | 31 Dec | 30 Sept | 30 Jun |
|---|---|---|---|---|---|
| Promoters | 34.970.00 pp | 34.97▼ −0.01 pp | 34.980.00 pp | 34.98▼ −0.02 pp | 35.00 |
| Foreign portfolio investors | 18.66▲ +0.07 pp | 18.59▲ +0.65 pp | 17.94▼ −2.66 pp | 20.60▼ −2.68 pp | 23.28 |
| Mutual funds | 19.14▲ +0.08 pp | 19.06▼ −0.82 pp | 19.88▲ +2.32 pp | 17.56▲ +1.05 pp | 16.51 |
| Insurance companies | 14.81▼ −0.55 pp | 15.36▼ −0.08 pp | 15.44▲ +0.62 pp | 14.82▲ +1.23 pp | 13.59 |
| Banks and financial institutions | 2.97▲ +0.05 pp | 2.92▲ +0.45 pp | 2.47▲ +0.21 pp | 2.26▲ +0.23 pp | 2.03 |
| Individual investors | 7.88▼ −0.24 pp | 8.12▼ −0.25 pp | 8.37▼ −0.44 pp | 8.81▲ +0.17 pp | 8.64 |
| Bodies corporate | 0.76▲ +0.46 pp | 0.30▲ +0.01 pp | 0.29▼ −0.03 pp | 0.32▼ −0.04 pp | 0.36 |
| Government | 0.170.00 pp | 0.170.00 pp | 0.170.00 pp | 0.170.00 pp | 0.17 |
| Others | 0.64▲ +0.12 pp | 0.52▲ +0.04 pp | 0.480.00 pp | 0.48▲ +0.05 pp | 0.43 |
Nothing upcoming on record; the board meets for results on 15 Oct 2026.
| Ex-date | Action | Amount or ratio | Record date | Source |
|---|---|---|---|---|
| recent | ||||
| 3 Jul 2026 | dividend | ₹36.00 | 3 Jul 2026 | BSE |
| 20 Oct 2025 | dividend | ₹15.00 | 21 Oct 2025 | BSE |
| 4 Jul 2025 | dividend | ₹30.00 | 4 Jul 2025 | BSE |
| 31 Oct 2024 | dividend | ₹15.00 | 1 Nov 2024 | BSE |
| 19 Jul 2024 | dividend | ₹28.00 | — | BSE |
| 2 Nov 2023 | dividend | ₹12.00 | 2 Nov 2023 | BSE |
TECHM is −5.5% over 20 sessions against Nifty's −6.2%, 17% below its 52-week high, realised volatility 22% annualised.
| Window | From ₹ | TECHM % | Nifty 50 % | Difference pp |
|---|---|---|---|---|
| 250 sessionssince 26 Sept | ₹1,407.71 | ▲ +8.9% | ▼ −9.1% | +18 |
| 120 sessionssince 9 Apr | ₹1,461.53 | ▲ +4.9% | ▼ −5.7% | +11 |
| 60 sessionssince 8 Jul | ₹1,428.84 | ▲ +7.3% | ▼ −6.1% | +13 |
| 20 sessionssince 2 Sept | ₹1,623.08 | ▼ −5.5% | ▼ −6.2% | +0.69 |
| 5 sessionssince 24 Sept | ₹1,543.03 | ▼ −0.65% | ▼ −2.8% | +2.1 |
| 1 sessionsince 30 Sept | ₹1,524.01 | ▲ +0.59% | ▼ −0.88% | +1.5 |
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