Stock Alert! This tech stock is up 150% and Morgan Stanley says rally is not over

Mindtree delivered strong set of Q1 numbers that beat street estimates,  with cross currency revenue growth of 7.6% (QoQ). Morgan Stanley says there is more upside left to the stock that has seen a 150% rise in the last 1 year.

Morgan Stanley Bets on Mindtree

• Retain Overweight on stock, Price target of Rs 2800/share
• Revenue growth and margins were stronger than expected
• Deal wins of $504mn were the strongest the company has ever seen
• Strongest ever headcount addition of 3400 in Q1

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