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Mindtree – A blowout quarter

While the valuation looks heady post the rally, we see a prosperous road ahead that makes Mindtree a buy on every correction

October 14, 2021 / 09:54 AM IST
Mindtree – A blowout quarter

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Mindtree (CMP: Rs 4364 Market Cap: Rs 71,916 crore) was expected to deliver an industry leading growth in Q2, and the same was captured in the stellar show of the stock, rising 75 per cent against 15 per cent of Nifty and an 18 per cent rally in the IT index in the past three months. The strength of its Q2 delivery has, perhaps, taken even a diehard optimist by surprise. Although the valuation prima facie looks heady, we...

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