Expects industry leading growth in direct and EBIT margin of 15.5-17% What should investors do? Mphasis' share price has grown by ~4x over the past five years (from ~| 535 in Jul 2016 to ~| 2537 levels in July 2021). However, recent run up in price prompts us to maintain HOLD rating Target Price and Valuation: We value Mphasis at | 2725 i.e. 29x P/E on FY23E EPS...