Buy Mphasis, target price Rs 1955: Motilal Oswal

Buy Mphasis, target price Rs 1955:  Motilal Oswal

Motilal Oswal has buy call on Mphasis with a target price of Rs 1955. The current market price of Mphasis is Rs 1639.35.

Mphasis Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 30736.06 Crore) operating in IT Software sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2435.43 Crore, up 6.43 % from last quarter Sales of Rs 2288.21 Crore and up 12.85 % from last year same quarter Sales of Rs 2158.11 Crore. Company reported net profit after tax of Rs 299.23 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 56.2 per cent stake in the company as of Sept 30, 2020, while FIIs held 22.1 per cent, DIIs 16.2 and public and others 5.5 per cent.

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