January 18, 2018 / 4:01 AM / 4 months ago

BUZZ-India's MindTree surges on strong Q3 results

** MindTree Ltd up as much as 10 pct at 687 rupees - highest since May 3, 2016

** Co on Wednesday said its Dec-qtr consol net profit jumped 37 pct to 1.42 bln rupees

** Morgan Stanley double-upgrades stock to ‘overweight’, target price hiked to 745 rupees from 560 rupees

** Says MindTree’s Q3 results show improving macro reflected in positive commentary on demand environment, higher velocity of deals in pipeline

** Results also demonstrate better execution on revenue growth, helped by past deal wins and strong improvement in core standalone margins - MS analysts add

** Up to Wednesday’s close, stock had risen 29.4 pct in 12 months

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