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Tech Mahindra Ltd. has received mixed reviews from brokerages after second-quarter earnings showed steady earnings growth, even as the future outlook remains clouded.

Out of the 46 analysts tracking Tech Mahindra, 23 have a 'buy' rating on the stock, 10 recommend a 'hold', and 13 suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets is Rs 1,586, which implies a potential upside of 8%.

InCred Securities has the highest price target at Rs 1,908, followed by YES Research (Rs 1,905), Motilal Oswal (Rs 1,900) and IDBI Capital Markets (Rs 1,850).

The stock has fallen 12% in the last 12 months and 14% on a year-to-date basis.

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