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Last Updated : Dec 21, 2015 06:36 PM IST | Source:

Buy MPS; target of Rs 930:Karvy

Karvy is bullish on MPS and has recommended buy rating on the stock with a target price of Rs 930 in its research report dated December 19, 2015.

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Karvy's reserach report on MPS

Changing consumer preference towards the digital book format leading to declining print, we believe that the company stands in sweet spot to take advantage increasing flow of the global publishers outsourcing work to India and we expect the company to grow at 7.8% CAGR on standalone basis drung FY15-17E.

Increased outsourcing work from the global publishers towards India, with improving services capabilities from inorganic growth to better mine the top contributing clients of the company and tight control over operating cost, we expect the company to perform better in the near term. At CMP of Rs.798, the stock is trading at PE of 25.0x and 23.8x of its FY16E and FY17E standalone earnings respectively. We recommend a “BUY” rating with a target price of Rs. 930 representing an upside potential of 17%.

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First Published on Dec 21, 2015 06:36 pm
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