India's Tech Mahindra jumps after Q2 revenue growth
** Shares of India's Tech Mahindra TEML.NS climb ~3% to 1729 rupees
** IT firm's revenue rose 1.9% YoY, 0.7% sequentially
** Growth of 0.7% QoQ ahead of our estimate (0.3%); believe co on path of recovery with gradual turnaround underway - Antique
** Brokerage maintains "buy" rating; hikes PT to 1,875 rupees from 1,725 rupees
** Q2 results were "encouraging with revenue beat surprising positively," says Jefferies, but maintains "underperform" on rich valuations
** Co rated "hold" on an average - LSEG data
** TEML top pct gainer in Nifty IT index .NIFTYIT, which is flat on the day
** YTD stock has jumped ~36% vs 18% gains in NIFTYIT
Reporting by Hritam Mukherjee in Bengaluru
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