Mindtree fell 3% on Thursday after Morgan Stanley assigned an "underweight" rating on the stock after the company reported its Q2FY20 on Wednesday.
A media report cited Morgan Stanley saying that the revenue growth came in better than expected but the margin was soft, however, it raised the target to Rs725 from Rs705/share.
The research house has also cut its FY20 EPS estimate by 6% and FY21 EPS estimate by 2%.
The company reported an increase in net profit by 45.6% on qoq basis at Rs135cr in Q2FY20. The company’s revenue also stood higher by 4.4% qoq at Rs1914.3cr in Q2FY20.
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