INSUBCONTINENT EXCLUSIVE:
across the sector.
The stock recovered to end at Rs 821, down 16.13% on Friday.
After being very positive on demand so far, the company has
suddenly turned cautious, indicating client spending will be impacted by events like Brexit
According to analysts, it is the first company talking this language in recent times
Revenue grew 2% quarter-on-quarter driven by 6.3% volume growth but realisations dipped 4%
Operating profit margins improved 130 bps QoQ to 15.4%
Dhruve, analyst, PhillipCapital
management has sounded positive on the longterm demand environment, there was a bit of caution on demand in the near term
Headwinds in terms of customer outlook include negative customer sentiment, especially in Europe and America
on the stock with a target price of ?1,060 at 18x September 2020 estimated earnings, considering rich valuations, lop-sided revenue growth,
