Q2 show, outlook extend rally in Mindtree, stock up 200% over past year

The disappointment was the flattish performance in business from its top client whose share of revenues now stands at 24 per cent

The street can’t seem to have enough of mid-cap IT major Mindtree. Despite the stellar rally over the last year, the stock added 10 per cent to its tally on Thursday. With this the stock is up over 200 per cent or thrice its value a year ago.

The trigger for the latest surge has been the best in class outperformance on revenues with margin performance and outlook adding to the optimism. A 12.7 per cent sequential revenue uptick was better than most estimates and was driven by broad-based growth across verticals.

The disappointment was the flattish performance in business