The company's net profit rose 45.6 percent quarter-on-quarter to Rs 135 crore on the back of better operating income.
ICICI Direct recommended hold rating on MindTree with a target price of Rs 690 in its research report dated October 17, 2019.
The stock has corrected significantly. At the current market price it has priced in most of the negative factors, namely liquidity issues.
Any upside towards the 11,400-mark can be used to go short, with a stop loss of 11,554, says Mehul Kothari
Net Sales are expected to increase by 2.9 percent Q-o-Q (up 7.6 percent Y-o-Y) to Rs. 1,888 crore, according to Prabhudas Lilladher.
Net Sales are expected to increase by 4 percent Q-o-Q (up 8.7 percent Y-o-Y) to Rs. 1,907.3 crore, according to Motilal Oswal.
The Coffee Day stock has been hitting the upper circuit for the past few days
Chatterjee was the executive vice president and president, global delivery, in Cognizant before he quit in May after serving the company for 23 years.
Analysts say three important stakeholders need reassurance from L&T after its takeover of Mindtree: Clients, employees and minority investors.
Subsequent to acquisition of control, the financials of Mindtree will be consolidated as a subsidiary of L&T from the second quarter of the financial year.
The Mindtree AGM turned out to be anticlimactic
Dolat Capital is bearish on Mindtree has recommended sell rating on the stock with a target price of Rs 700 in its research report dated July 18, 2019.
Kotak Institutional Equities maintained its 'reduce' call on Mindtree and slashed its target to Rs 725
The company added 1 client in $5 million bucket, taking total active clients to 346 as of June 2019.
Investors Moneycontrol spoke to see the takeover in the positive light and believe Mindtree could benefit from L&T as its parent.
At the AGM, investors raised concerns about whether L&T would agree to the dividend of Rs 27 Mindtree had announced to mark its 20th anniversary
Mindtree Q1 PAT may dip 16.5% QoQ to Rs. 165.7 cr: Prabhudas Lilladher
Net Sales are expected to increase by 1 percent Q-o-Q (up 13.3 percent Y-o-Y) to Rs. 1,858.1 crore, according to Kotak.
Mindtree said it would announce a new leadership team in due course
Here’s a look at all the major developments of the week in the IT sector
After acquiring 28.90 percent from Siddhartha and through open market transactions, L&T got a little over 31 percent from an open offer to acquire its promoter stake.
The infrastructure major's open offer - at Rs 980 a share - began on June 17 and concluded on June 28.
It is unclear whether founder promoters tendered their shares in the open offer that followed. While some reports claimed that founders have decided to sell their shares, others have reported that they have not.