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Buy Mphasis, target of Rs 636: ULJK Sec

25 Aug 09 02:35 PM
Money Control
ULJK Securities has maintained its buy rating on Mphasis with a revised target price of Rs 636 in its August 21, 2009 research report.

"MphasiS has recorded a revenue of Rs 11,055 million versus Rs 10,484 million in the third quarter FY’09 with a growth rate of 5.76% and 42% on QoQ and YoY basis respectively which are in line with our expectations of Rs. 10,814 million. We remain with our “BUY” recommendation with a revised target price of Rs.636 with a PE of 15x for the FY09 earnings of Rs. 42.4," says ULJK Securities' research report.