Wednesday 12 November 2008

Hold Mphasis, target of Rs 174: Indiabulls Securities

Indiabulls Securities Research has maintained its hold rating on Mphasis with a target price of Rs 174 in its October 28, 2008 research report. "In Q2’09, MphasiS Limited (MphasiS)’s revenue climbed 12.6% sequentially to Rs 8.4 billion, owing to a 5.5% increase in volumes, a 5.6% depreciation of the rupee, and a 1.5% improvement in the price realisation. Based on our DCF valuation, we have arrived at a target price of Rs 174, assuming an 8.0% Rf, a 13.6% WACC, and a 5.0% terminal growth rate. As our target price provides an upside of 1.4% from the current levels, we maintain Hold rating," says Indiabulls Securities' research report.

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Source: Moneycontrol

Posted by Harsh at 09:26

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