BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
HDFC Securities Report
Mindtree Ltd. reported strong and sustainable operational performance. Growth divergence between T1 account and the residual business upended in Q2, with a flattish T1 performance on strong Q1 seasonality.
Mindtree’s ‘strategy refresh’ and service-line reset to focus on client mining (cross-sell), drive multi-year annuity, and partnerships will support broad-based growth ahead.
Although deal wins were soft in Q2 with total contract at $303 million, they are higher by 10% YoY in H1 FY21.
Growth is expected to be led by retail, consumer packaged goods and manufacturing vertical (Husqvarna Group and S/4 HANA deals) and communication media and technology vertical, and a protracted recovery profile for travel and hospitality vertical.
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