Citi maintains a sell on the stock as it feels that the growth outlook may result in pressure on their estimates.
Shares of Mindtree slipped 7 percent intraday Monday on growth outlook concerns. The management has warned that its Q4FY15 dollar revenue growth is expected to report a small decline due to cross currency movements. Delay in commencement of projects at two clients in the retail and CPG verticals may also hurt earnings, it said.
Citi maintains a sell on the stock as it feels that the growth outlook may result in pressure on their estimates.
Kotak has downgraded the stock to reduce from add on expensive valuations and growth slippage. The brokerage also added that there are a few concerns emerging in its well-oiled growth engine.
At 13:00 hrs Mindtree was quoting at Rs 1412.00, down Rs 54.85, or 3.74 percent on the BSE.
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