Hem Securities has given Buy recommendation for Mphasis with a target price of Rs. 3490 in its research report issued on Feb 08, 2022

Hem Securities report on Mphasis

Mphasis Ltd Q3 FY22 consolidated revenues came in at ₹3124 Cr, up 26.2% YoY and up 8.8% QoQ. Op Profit for Q3FY22 stood at ₹553 Cr, up 18.8% YoY and up 11.1% QoQ. Op margins for Q3FY22 came at 17.7%, -111bps YoY and +35 bps QoQ. PAT for Q3FY22 stood at ₹358 Cr, up 9.8% YoY and up 4.75% QoQ.

Outlook

We initiate a “BUY” rating on the stock and value the stock at 36.0x FY23E earnings to arrive at the target of ₹3490.

More Info on Trent

At 17:30 MphasiS was quoting at Rs 3,001.25, down Rs 108.40, or 3.49 percent.

It has touched an intraday high of Rs 3,045.20 and an intraday low of Rs 2,949.00.

It was trading with volumes of 11,986 shares, compared to its thirty day average of 22,095 shares, a decrease of -45.75 percent.

In the previous trading session, the share closed up 2.72 percent or Rs 82.35 at Rs 3,109.65.

The share touched its 52-week high Rs 3,659.75 and 52-week low Rs 1,399.30 on 19 October, 2021 and 24 February, 2021, respectively.

Currently, it is trading 18.14 percent below its 52-week high and 114.11 percent above its 52-week low.

Market capitalisation stands at Rs 56,408.02 crore.

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