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Last Updated : Jan 18, 2019 04:36 PM IST | Source:

Hold MindTree; target of Rs 930: ICICI Direct

ICICI Direct recommended hold rating on MindTree with a target price of Rs 930 in its research report dated January 17, 2019.

Broker Research @moneycontrolcom
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ICICI Direct's research report on MindTree

MindTree reported an in line dollar revenue growth and 50 bps margin expansion to 15.9% US$ revenues grew 2.1% QoQ to $251.5 million, in line with our $251.4 million estimate. Constant currency revenues grew 2.4% QoQ The EBITDA margin expanded 50 bps sequentially to 15.9% (above our 15.7% estimate) led by operational efficiency and no impact of rupee depreciation.


Further, keeping in mind the impending stake sale by a large shareholder and the macro environment uncertainty, we maintain our HOLD rating on the stock with a revised target price of Rs 930 per share (based on 16x P/E on FY21E EPS).

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

First Published on Jan 18, 2019 04:36 pm
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