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Buy Mphasis; target of Rs 2323: Hem Securities

Hem Securities is bullish on Mphasis has recommended buy rating on the stock with a target price of Rs 2323 in its research report dated September 23, 2022.

September 24, 2022 / 12:21 PM IST
 
 
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Hem Securities report on Mphasis


Mphasis Ltd Q1 FY23 consolidated revenues came in at ₹3411 Cr, up 26.77% YoY and up 4.08% QoQ. Op Profit for Q1FY23 stood at ₹600 Cr, up 22.62% YoY and up 3.96% QoQ. Op margins for Q1FY23 came at 17.59%, -60bps YoY and -2 bps QoQ. PAT for Q1FY23 stood at ₹401.87 Cr, up 18.31% YoY and up 2.50% QoQ.



Outlook


We initiate a “BUY” rating on the stock and value the stock at 21.9x FY24E earnings to arrive at the target of ₹2323.


More Info


At 17:30 MphasiS was quoting at Rs 2,018.30, down Rs 41.35, or 2.01 percent.


It has touched an intraday high of Rs 2,075.40 and an intraday low of Rs 2,015.00.


It was trading with volumes of 24,310 shares, compared to its thirty day average of 19,215 shares, an increase of 26.52 percent.


In the previous trading session, the share closed down 0.67 percent or Rs 13.85 at Rs 2,059.65.


The share touched its 52-week high Rs 3,659.75 and 52-week low Rs 1,991.25 on 19 October, 2021 and 19 September, 2022, respectively.


Currently, it is trading 44.83 percent below its 52-week high and 1.39 percent above its 52-week low.


Market capitalisation stands at Rs 38,018.78 crore.


For all recommendations report, click here


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Mphasis - 240922 -hem

Broker Research
first published: Sep 24, 2022 12:21 pm