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Hold Mphasis: Indiabulls Securities
Posted on: July 1st, 2009 and is filed under Brokerage Recommendations.
Indiabulls Securities Research has maintained its hold rating on Mphasis in its June 29, 2009 report.
“At the current market price of Rs 392.35, Mphasis trades at a forward P/E of 13.7x for 2009E. In our view, the Company will continue its growth momentum supported by its association with HP and EDS. Our DCF based valuation (assuming a WACC of 14.8%, Rf of 7.91%, and terminal growth of 5%) gives a fair value of Rs. 409, which provides an upside of 4% from the CMP. Therefore, we maintain our Hold rating on the stock,” says Indiabulls Securities’ research report.
source: moneycontrol
Tags: buy or sell mphasis, holding mphasis, indiabulls security buy or sell calls, mphasis, NSE Tips
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