Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on Mphasis to achieve a short term target of Rs 450.

According to Mr. Gujral, interested traders can buy the stock on declines with a strict stop loss of Rs 350.

Shares of the company, on Monday (June 22), closed at Rs 383.65 on the Bombay Stock Exchange (BSE). The total number of shares traded on BSE stood at 110,366 on the BSE.

Current EPS & P/E ratio stood at 27.32 and 14.04 respectively. The share price has seen a 52-week high of Rs 402 and a low of Rs 119.40 on BSE.

Mr. Gujral also said that it is good for investors to make investment in this stock as there are full chances of an up-trend in the coming days. So, investors should buy and hold the stock for short term period to achieve the said target.

The Mphasis Group said that the consolidated net profit of the company rose 3.19 times during the three month period ended April 2009.

During the period, Mphasis posted net profit of Rs 2,245 million as compared to Rs 703 million in same period of the last year (April 2008).

In the same period, consolidated revenues of the company stood at Rs 10,485 million, a rise of 52.30% over the prior year period.

The company`s consolidated earnings during the quarter under the review was at Rs 10.74 per share, an increase of 3.19 times over the prior year period.

On a year on year basis, the company’s profit stood at Rs 2,245 million as compared to Rs 2,100 million for quarter ended January 31, 2009 a growth of 6.9%.

Consolidated revenues for quarter ended April 30, 2009 surged by 7.2% as against Rs 9,777 million during the last quarter.

The company’s EPS rose 6.9% from Rs 10.05 during the last quarter.