This multibagger stock grew 110 percent in one year, the brokerage firm said – the boom will continue


Multibagger Stock: Mphasis Ltd (Mphasis) is a provider of Application Services, BPO and Infrastructure Services BFSI, Technology, Communication and Logistics Services. For the second quarter ended September, the IT company reported its FY22 Q2 results on profits.

The company’s dollar revenue rose 6% on a sequential basis (QoQ) to $385.2 million. On the other hand, its adjusted (one-time cost) margin was down 10 basis points (bps) quarter-on-quarter.

The share price of Mphasis has grown almost 7 times in the last five years (from around ₹445 in October 2016 to a level of around ₹3,254 in October 2021). The Multibagger stock has gained nearly 110 per cent so far this year (Y-to-date), while it has gained 136 per cent in the one-year period. From ₹1,356 per share, the stock is currently trading around ₹3,207 per share.

The recent rally in prices has prompted brokerage and research firm ICICI Securities to maintain a ‘Hold’ rating on the stock. The brokerage firm is seeing further upside in this IT stock. Its target price is ₹ 3,420 per share with a target period of around twelve months.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

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