External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Mindtree beat our estimates with revenue of Rs 2,750 Cr for Q3FY22, reporting revenue growth of 35.9% YoY and 6.3% QoQ</li><li>The company posted operating profits of Rs 592 Cr, registering a growth of 9.7% QoQ</li><li>We recommend a BUY on the stock and assign 40x P/E multiple to its FY24E earnings of Rs 131.5/share to arrive at a, implying an upside potential of 12% from CMP.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Mindtree beat our estimates with revenue of Rs 2,750 Cr for Q3FY22, reporting revenue growth of 35.9% YoY and 6.3% QoQThe company posted operating profits of Rs 592 Cr, registering a growth of 9.7% QoQWe recommend a BUY on the stock and assign 40x P/E multiple to its FY24E earnings of Rs 131.5/share to arrive at a, implying an upside potential of 12% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mindtree: Robust Revenue Growth; Efficient Execution to Aid Margin Expansion

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Mindtree (MTCL) delivered healthy QoQ growth (following a very strong quarter) and margin beat (~100bps expansion) was the highlight of the quarter</li><li>Recovery in T1 business was encouraging and growth was broad-based across verticals, geographies, and service lines</li><li>Our target price of INR 5,060 is based on 37x Mar-24E EPS (25% CAGR over FY21-24E on a high base in FY21 of &gt;70%)</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Mindtree (MTCL) delivered healthy QoQ growth (following a very strong quarter) and margin beat (~100bps expansion) was the highlight of the quarterRecovery in T1 business was encouraging and growth was broad-based across verticals, geographies, and service linesOur target price of INR 5,060 is based on 37x Mar-24E EPS (25% CAGR over FY21-24E on a high base in FY21 of &gt;70%)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), Edelweiss Broking Limited

Edelweiss

Edelweiss Broking Limited

Edelweiss Broking Limited is an Indian Financial services company based in Mumbai, India. The company is a subsidiary of Edelweiss Group. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<p>Mindtree is a technology consulting and digital solutions company.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Mindtree is a technology consulting and digital solutions company.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<ul>
<li>Near the end of the review period, we see 8 stocks migrating upward from Mid to Large Cap and 9 stocks migrating from Small to Mid Cap.</li>
<li>We expect 12 stocks to migrate downward from Large to Mid Cap and 19 stocks from Mid to Small Cap. Four new listings will be added to the Large Caps.</li>
<li>Historically, the upward migrating stocks have outperformed the stocks migrating lower as the active funds rebalance their portfolios to meet regulations around stocks held based on the fund classification.</li>
</ul>


Near the end of the review period, we see 8 stocks migrating upward from Mid to Large Cap and 9 stocks migrating from Small to Mid Cap.
We expect 12 stocks to migrate downward from Large to Mid Cap and 19 stocks from Mid to Small Cap. Four new listings will be added to the Large Caps.
Historically, the upward migrating stocks have outperformed the stocks migrating lower as the active funds rebalance their portfolios to meet regulations around stocks held based on the fund classification.


India: Half-Yearly Stock Reclassification for Active Funds

Index Rebalance

<ul>
<li>As expected, the December review of the <a href="https://www.smartkarma.com/entities/s-p-bse-sensex-index" target="_blank" data-smartkarma-citation="entities:31494:1" rel="noopener">S&amp;P BSE SENSEX Index (SENSEX INDEX)</a> sees <a href="https://www.smartkarma.com/entities/wipro-ltd" target="_blank" data-smartkarma-citation="entities:15360:1" rel="noopener">Wipro Ltd (WPRO IN)</a> added and <a href="https://www.smartkarma.com/entities/bajaj-auto-ltd" target="_blank" data-smartkarma-citation="entities:3613:1" rel="noopener">Bajaj Auto Ltd (BJAUT IN)</a> deleted.</li>
<li>Buying on Wipro is 2.5 days of ADV and 8.2 days of delivery volume, while selling on Bajaj Auto is 4.5 days of ADV and 8.9 days of delivery volume.</li>
<li>The overweight of the Information Technology sector in the Sensex gets even bigger and the Consumer Discretionary sector gets even more underweighted vs the BSE All Cap Index.</li>
</ul>


As expected, the December review of the S&amp;P BSE SENSEX Index (SENSEX INDEX) sees Wipro Ltd (WPRO IN) added and Bajaj Auto Ltd (BJAUT IN) deleted.
Buying on Wipro is 2.5 days of ADV and 8.2 days of delivery volume, while selling on Bajaj Auto is 4.5 days of ADV and 8.9 days of delivery volume.
The overweight of the Information Technology sector in the Sensex gets even bigger and the Consumer Discretionary sector gets even more underweighted vs the BSE All Cap Index.


SENSEX Dec 21 Index Rebalance: Wipro Added, Bajaj Auto Deleted

India

Mindtree Limited is an international IT company. The Company delivers business and technology solutions through global software development. Mindtree develops applications to help companies enhance their enterprise operations. The Company also delivers product-development services and designs reusable building blocks for high-tech companies.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Mindtree Ltd (MTCL IN)

Mindtree: Robust Revenue Growth; Efficient Execution to Aid Margin Expansion

We recommend a BUY on the stock and assign 40x P/E multiple to its FY24E earnings of Rs 131.5/share to arrive at a, implying an upside potential of...

Axis Direct

HSIE Results Daily: Mindtree, CESC

Mindtree (MTCL) delivered healthy QoQ growth (following a very strong quarter) and margin beat (~100bps expansion) was the highlight of the quarter

HDFC Securities

Pick of the Week - Mindtree

Mindtree is a technology consulting and digital solutions company servicing over 340 clients globally. It delivers digital transformation and...

Edelweiss

India: Half-Yearly Stock Reclassification for Active Funds

Upward migrations include 8 stocks from MidCap to LargeCap & 9 from SmallCap to MidCap. 4 new listings will join the LargeCaps and 6 new listings...

Brian Freitas

SENSEX Dec 21 Index Rebalance: Wipro Added, Bajaj Auto Deleted

Wipro will be added to the Sensex in December while Bajaj Auto will be deleted. Impact on both stocks is over 8 days of delivery volume to trade....

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)