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

Mindtree reported revenue growth of 7.6% , EBIT margin at 17.7% both beating street estimates. 

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      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

      Read/Watch Also: All eyes on Infosys, how to trade the earnings

      Akshay KumarRaveena TandonMohra

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