Nuvama Flags 3 Stocks: Up to 46% Upside Potential Revealed
Overview
Nuvama Institutional Equities has issued 'Buy' recommendations for three stocks: Mphasis, APL Apollo Tubes, and Waaree Energies. The brokerage firm sees significant upside potential, up to 46% in one case, driven by strong Q3 earnings and positive future growth outlooks.
Stocks Mentioned
Mphasis: Deal Wins Fuel 'Buy' Call
Nuvama Institutional Equities has retained its 'Buy' rating on Mphasis, setting a target price of ₹3,400, which suggests a 21.4% potential upside. The firm's optimism stems from the company's robust deal wins, which surged 100% year-on-year on a trailing twelve-month basis in Q3FY26. However, Nuvama noted that revenue growth is significantly lagging these deal wins and requires acceleration for enhanced growth visibility. The brokerage has made minor adjustments to its Earnings Per Share (EPS) estimates for FY26 and FY27. Mphasis reported stable Q3FY26 results, with revenue growing 1.5% on a constant currency sequential basis and 7.4% year-on-year to $451.4 million, surpassing expectations. The EBIT margin remained steady at 15.2%, and adjusted Profit After Tax (PAT) was broadly in line with estimates. Total contract value stood at $428 million.
