View: Healthy revenue in the direct core to aid profitability MPHL reported a strong revenue, in line with our estimates, due to a healthy growth in the direct core channel. MPHL believes the direct core channel will grow more than the industry, given strong deal wins in the next gen services in FY20. The company expects growth in line with the industry in the HP/DXC channel, due to a large transformational deal. The company witnessed strong spending by banks in digital, rather than core IT spend, and is confident about strong growth in this vertical....