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IDBI Capital Report
Shares of Birlasoft Ltd. may remain in focus after IDBI Capital downgraded the stock to 'Hold' from 'Buy' and revised its target price to Rs 336, citing limited revenue visibility, continued weakness in key verticals and the absence of formal management guidance despite a healthy deal pipeline.
The revised target price implies an upside potential of about 12% from the current market price of Rs 300.
According to the brokerage, Birlasoft's June-quarter performance reflected a company that is stabilising but still facing growth challenges. Revenue rose just 0.3% QoQ in constant currency terms, while dollar revenue remained largely flat at $145.2 million, significantly lagging some faster-growing mid-tier IT peers.
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