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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

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