“Mindtree is now trading at 47x 1-year forward P/E (consensus) vs the pre-Covid long term average of 15x. ![]() Overheated and lifetime high valuations of many stocks more than capture the near-term strength/predictability in earnings, ICICI Securities noted in its research report on Infosys, Wipro and Mindtree. After Q2 results of IT companies, brokerages continue to broadly be positive in the sector despite being divided on specific stocks.
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