ICICI Securities recommends buy on Mphasis with ₹3,030 target
Business
ICICI Securities is feeling upbeat about Mphasis and has recommended buying its shares with a target price of ₹3,030.
The company just updated its outlook, aiming for low double-digit CC growth by FY27 thanks to a strong project pipeline and better conversion of contract wins into revenue.
Mphasis invests amid 26% deal surge
Mphasis saw a 26% jump in new, quick-turnaround deals on a trailing 12-month (TTM) basis and kept its profit margin steady at 14.8% for the first half of FY27.
The company is investing heavily now, reflected in slightly slower payments from clients, but it expects cash flow to bounce back soon.
With its focus on tech-led transformation projects and ability to land big contracts even in a tough market, analysts believe Mphasis is set for steady growth ahead.