Buy Mphasis., target price Rs 2540: Kotak Securities

economictimes.indiatimes.com:

MphasiS with a target price of Rs 2540. The current market price of MphasiS is Rs 2424.35.

Kotak Securities recommended to keep stop loss at Rs 2420.

MphasiS, incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 45721.40 Crore) operating in IT Software sector.
MphasiS key Products/Revenue Segments include Computer Software for the year ending 31-Mar-2022.

Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 3302.36 Crore, down -2.98 % from last quarter Total Income of Rs 3403.82 Crore and down -4.19 % from last year same quarter Total Income of Rs 3446.86 Crore. Company has reported net profit after tax of Rs 396.05 Crore in latest quarter.
Investment Rationale
The breakout from the Ascending Triangle chart pattern specifies a new leg of upside.

Promoter/FII Holdings Promoters held 55.58 per cent stake in the company as of 30-Jun-2023, while FIIs owned 17.19 per cent, DIIs 20.83 per cent.