Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Mindtree will see an upside bias once it breaks out above Rs 920 levels
Google techie tests positive for Coronavirus; Amazon, Uber India, Microsoft ask all employees to work from home if they can
Founders had requested for the reclassification in July last year after L&T took over the Bengaluru-based firm
Dell advises work from home after employee tests positive; Mindtree, too, reports a case
The ability to forge partnerships with large technology firms in niche areas and strong leadership are seen as the factors behind these optimistic projections
The stock has outpaced the market by surging 16 per cent in the last 10 trading days, as compared to a 2 per cent decline in the S&P BSE Sensex
Slow pace of new contracts remains a concern despite revenue growth
For the recently concluded quarter, the Bengaluru-headquartered company reported revenue growth of around 10 per cent to Rs 1,965 crore.
The Bengaluru-headquartered company's revenues grew around 10 per cent to Rs 1,965 crore for the quarter ended December
Diluted earnings per share (EPS) came in at Rs 11.96, up 3 per cent YoY and 45.9 per cent QoQ.
Shares of Mindtree have surged 13 per cent in December quarter against 6 per cent rise in Nifty50
The company is collaborating with global software company PTC to "unleash new possibilities and transform interactions" throughout the customer experience and Industry 4.0 touch points
Reports strong order inflow, revenue growth amidst slowdown
It reported 34.6 per cent decline in its net profit at Rs 135 crore for the second quarter of FY20 when compared with the corresponding period of the previous financial year.
Deal pipeline remains strong, company expects to improve growth in H2
The Bengaluru-based company saw its revenue grow 9.1 per cent to Rs 1,914.3 crore in the quarter under review from Rs 1,755.4 crore in the year-ago period, it added
As per analysts, FY20 is likely to remain a softer year for midcap IT on US dollar revenue growth (vs FY19 on revenue growth front).
Sources in the know said a tweak in the branding of Mindtree is also on the cards
No significant change has happened to the middle management, said Debashis Chatterjee