However, the recent run-up in the stock price coupled with poor DXC revenues in Q1FY21 makes us cautious on the stock, it said.
“The company announced new TCV wins of $259 million in 1QFY21 in Direct International. This is the highest ever TCV win for a quarter for Mphasis
and comprises one large deal win of over $100 million TCV. Around 79 per cent of the deal wins during the quarter are into new gen services. We await further clarity on the outlook on DXC and margins in the earnings call,” Motilal Oswal Financial Services said in result update with ‘neutral’ rating on the stock.
At 10:29 am, Mphasis
was trading 8.5 per cent higher at Rs 1,066 on the BSE compared to 0.46 per cent decline in the S&P BSE Sensex. The stock was quoting close to its 52-week high of Rs 1,098.90 touched on July 16, 2020. In the past one month, it has rallied 24 per cent compared to 8.8 per cent rise in the benchmark index.
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