Equal Weight MphasiS Ltd., target Rs 515: Morgan Stanley

Morgan Stanley has an equal weight call on MphasiS Ltd. with a target price of Rs 515. The current market price of MphasiS Ltd. is Rs 537. Time period given by analyst is year, when MphasiS Ltd. price can reach defined target. The revenue, margin trajectory appears to be improving supported by stable outlook, the global investment bank said in a note. It sees continued strong deal wins in Direct channel business. The management expects margins to beat mid-point of 14%-16% in FY17.