Buy Mphasis, target price Rs 3475: HDFC Securities

HDFC Securities has buy call on Mphasis with a target price of Rs 3475. The current market price of MphasiS Ltd. is Rs 3219.8.

Time period given by analyst is one year when MphasiS Ltd. price can reach defined target.

Mphasis Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 59446.59 Crore) operating in IT Software sector.


Mphasis Ltd. key Products/Revenue Segments include Computer Software for the year ending 31-Mar-2020.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2737.55 Crore, up 7.07 % from last quarter Total Income of Rs 2556.88 Crore and up 17.70 % from last year same quarter Total Income of Rs 2325.88 Crore. Company reported net profit after tax of Rs 339.69 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 56 per cent stake in the company as of June 30, 2021, while FIIs held 20.8 per cent, DIIs 18.5 per cent and public and other 4.8 per cent.