Shares of Tech Mahindra Ltd . opened higher but soon erased gains to trade lower on Wednesday, October 15, following the company's September quarter earnings announcement.

The IT major delivered a better-than-expected operating performance in the second quarter. Both revenue and margins came in ahead of estimates, with constant currency revenue growth at 1.6% versus expectations of 1%. This also marked the strongest growth in the past 10 quarters.

Tech Mahindra reiterated that its FY27 guidance, which includes growth above the industry average and an operating margin of around 15%, remains unchanged. The company said FY27 growth should surpass FY26 levels, although it may be muted compared to initial expectations.

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