Mphasis share price: Buy Mphasis, target price Rs 1980: Kotak Securities

Kotak Securities has buy call on with a target price of Rs 1980. The current market price of MphasiS Ltd. is Rs 1936.45. Time period given by analyst is Intra Day when Mphasis price can reach defined target.

Mphasis Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 36145.08 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2556.88 Crore, up 1.83 % from last quarter Total Income of Rs 2510.95 Crore and up 6.60 % from last year same quarter Total Income of Rs 2398.67 Crore. Company reported net profit after tax of Rs 316.94 Crore in latest quarter.


Investment Rationale
Hammer candlestick formation near important retracement zone hints at bullish momentum


Promoter/FII Holdings
Promoters held 56 per cent stake in the company as of March 31, 2021, while FIIs held 21.8 per cent, DIIs 17.2 per cent and public and other 5 per cent.

(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)

Source Link