Firstsource Solutions share price gained over 3 percent intraday on February 19 after the company arm PatientMatters bagged consulting service from Mon Health System.
"PatientMatters, a Firstsource company, announced that Mon Health System has selected the company’s IntelliAdvisor Consulting Service," the company said in an exchange filing.
As part of this engagement, PatientMatters will direct Mon Health’s Pre-Access Service Center and process workflows and related functions. It will also support Mon Health’s mission of providing a positive patient financial experience, improving collections, and enhancing registration quality and speed, it said.
The stock was trading at Rs 97.50, up Rs 2.60, or 2.74 percent at 11:45 hours. It has touched an intraday high of Rs 99.30 and an intraday low of Rs 94.20.
The business process management services provider posted an over 35 percent rise in consolidated net profit at Rs 121 crore for the third quarter ended December 2020. Its net profit, attributable to owners of the equity, stood at Rs 89.5 crore in the year-ago period, Firstsource said in a statement.
Brokerage firm Dolat Capital has a buy rating on the stock with a target of Rs 150 per share. It is of the view that strong growth guidance (16-17 percent for FY21), robust client additions, sustained profitability, widened bandwidth and market opportunities, generous payouts (imply 6 percent yield) and attractive valuations make a strong case for significant re-rating of the stock.
Research firm Anand Rathi has a buy rating on Firstsource Solutions for a target of Rs 121.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long term moving averages. The company has zero promoter pledge with FII / FPI or institutions increasing their shareholding.
Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.
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