 "MindTree nears 52-week high")
MindTree has rallied nearly 4% to Rs 1,575 on the BSE ahead of board meeting on Monday to consider issue of bonus shares. The stock is less than 2% away from its 52-week high of Rs 1,605 touched in September last year.
Thus far in current week, the stock outperformed the market by gaining 12% as compared to 1% decline in the S&P BSE Sensex.
The board of directors of the company will meet on January 18, 2016, to consider a proposal for declaring / recommending issue of bonus shares. The board will also consider the audited financial results of the company for the third quarter and also to consider the declaration of interim dividend, if any.
HDFC Securities expect MindTree will post 1% quarter on quarter (QoQ) US$ revenue growth (US $ 182 million), cross currency (CC) revenue growth likely at 1.5% QoQ for the third quarter ending December 31, 2015 (Q3FY16).
Motilal Oswal Securities expect the trend of robust deal wins to continue. The company won deals with TCV of US$ 208 million in Q1 and US$ 193 million in Q2.
The impact of seasonality however could be lower in the case of MindTree compared with peers given that it has been strong deals win in Q2 in digital, which typically has shorter duration deals, the broking firm said in a Q3 results preview.
Post Q2 results, since October 10, 2015, the stock gained 11% against 8% fall in the benchmark index.
Thus far in current week, the stock outperformed the market by gaining 12% as compared to 1% decline in the S&P BSE Sensex.
The board of directors of the company will meet on January 18, 2016, to consider a proposal for declaring / recommending issue of bonus shares. The board will also consider the audited financial results of the company for the third quarter and also to consider the declaration of interim dividend, if any.
HDFC Securities expect MindTree will post 1% quarter on quarter (QoQ) US$ revenue growth (US $ 182 million), cross currency (CC) revenue growth likely at 1.5% QoQ for the third quarter ending December 31, 2015 (Q3FY16).
Motilal Oswal Securities expect the trend of robust deal wins to continue. The company won deals with TCV of US$ 208 million in Q1 and US$ 193 million in Q2.
The impact of seasonality however could be lower in the case of MindTree compared with peers given that it has been strong deals win in Q2 in digital, which typically has shorter duration deals, the broking firm said in a Q3 results preview.
Post Q2 results, since October 10, 2015, the stock gained 11% against 8% fall in the benchmark index.
At 10:00 a.m. the stock was up 3% at Rs 1,566 on the BSE. A combined 149,434 shares changed hands on the counter on the BSE and NSE.