Anand Rathi gives Mphasis a buy call with ₹3,079 target
Business
Mphasis just got a thumbs up from Anand Rathi, who's recommending a "buy" with a price target of ₹3,079.
The call comes after Mphasis posted its best growth in three years this quarter, thanks to strong results in banking, insurance, and tech sectors.
Mphasis revenue up 9.7% YoY
Revenue jumped 9.7% year-on-year in constant currency, with shorter project cycles speeding things up and 66% of net new TCV was AI-led.
Even though margins dipped to 15.9% due to higher costs and more AI investment, Mphasis is feeling confident, raising its growth forecast for the year and hinting at a possible 22% upside for its shares.