Firstsource Solutions targets 2026: ₹330-₹420 range

What is driving attention on Firstsource Solutions

Firstsource Solutions (NSE: FSL) has stayed in focus as brokerages and market-data platforms show a wide spread in 1-year price targets, alongside volatile price action and heavy-volume sessions. The stock is also being tracked for updates tied to an “AI embedded operating model” narrative and for changes in valuation inputs such as discount rate, forward P/E and profit margin assumptions. In the dataset provided, multiple snapshots of price and performance are shown, including different last-traded prices across dates and sources.

A key takeaway is dispersion. Some research notes keep targets broadly unchanged near ₹302, while others cite targets around ₹330 and as high as ₹420. This makes it important to separate what is confirmed in brokerage notes from what is implied by technical commentary or consensus panels.

Latest trading snapshot and key price bands

The provided “Open Trading A/c” panel shows a day range of ₹234.25 to ₹249.80. Another price snapshot lists Firstsource Solutions at ₹235.18, down ₹8.23 or 3.38%. A separate “Historical stock prices” block shows a current share price of ₹243.41, while an ETPrime panel shows the stock last traded at ₹212.87, down 5.13% from ₹224.36.

Because these figures appear to come from different timestamps, they should be read as separate market snapshots rather than a single consolidated tape. What is consistent is that the stock has traded meaningfully below its prior peak, with one panel explicitly stating the price is 41.76% away from its 52-week high.

BSE market depth on 07 May 2026

Order book data for BSE Market Depth dated 07 May 2026 shows a bid-ask of 235.25 / 237.00. The visible buy side includes bids such as 45 shares at ₹235.55 and 207 shares at ₹235.00. The sell side includes offers such as 1,000 shares at ₹236.25 and 250 shares at ₹237.80.

This snapshot suggests a narrow spread around the mid-₹236 zone at that moment, with heavier visible quantity on the offer side at the best sell level (₹236.25 for 1,000 shares). Market depth, however, changes quickly and should be treated as indicative rather than definitive.

52-week range and longer-term returns shown

The dataset cites a 52-week high of ₹403.80 and a 52-week low of ₹202.00. It also specifies dates for those levels: the 52-week high of ₹403.8 per share on June 25, 2025, and the 52-week low of ₹202 on March 2, 2026.

Performance blocks show mixed momentum depending on the lookback period. One panel lists 1-month change at 8.87% and 3-month change at -18.54%. Longer-term numbers shown include 3-year change of 87.09%, 5-year change of 90.24%, and change since IPO of 205.98%.

Brokerage views: Nomura, ICICI Securities, Emkay, IIFL

Several brokerage references are included. Nomura is cited as maintaining a Buy rating with a target price of ₹330, despite cutting FY26-28F EPS estimates by 2-11%. Nomura also expects double-digit medium-term revenue growth and margin expansion, with EBIT margins projected at 11.7-12.6%, and notes valuation at 13x FY28F EPS.

ICICI Securities is cited with a Hold rating and a target price of ₹330 per share. Management commentary referenced in the dataset points to macro caution, healthcare restructuring and phased ramp-ups, implying visibility but measured conversion.

Emkay Global Financial Services appears multiple times with a target price of ₹350 or ₹370 alongside different “Reco Price” entries (₹352.95, ₹351.80, and ₹354.65) and one instance where the “Reco Price” is not shown. Separately, IIFL Finance is cited as initiating coverage with a Buy rating and a price target of ₹420.

Consensus targets and recommendation mix shown

One “Analysts’ Consensus” panel states: mean consensus BUY, number of analysts 13, last close price ₹219.50, average target price ₹352.08, high price target ₹420.00, and low price target ₹215.00. Another forecast block states a price target of 384.23 INR, with a max estimate of 458.00 and a min estimate of 330.00.

The recommendation mix is presented as predominantly positive in parts of the dataset. One line states eleven analysts recommend Buy and two suggest Hold, while another line mentions three analysts have a Sell recommendation. Since the two statements conflict, they should be treated as separate platform summaries rather than a single reconciled consensus.

What analysts changed in the “AI embedded operating model” note

A section titled “FSL: AI Embedded Operating Model Will Drive Future Upside Potential” describes multiple rounds of modest target revisions. It says analysts have kept their price target broadly unchanged around ₹302, with only marginal tweaks to assumptions such as discount rate, revenue growth, profit margin and future P/E.

The same section also cites target trims from about ₹336 to roughly ₹302, fair value seen at approximately ₹336 down from ₹343, and reductions such as ₹369.77 to ₹343.00 and ₹406.15 to ₹369.77. It also includes a sequence of upward adjustments: from ₹397.77 to ₹400.08, from ₹400.08 to ₹406.15, and a nudge higher to roughly ₹398 from about ₹390.

Volume-led moves and near-term technical levels cited

The dataset includes an instance where the stock surged 15.57% intraday to a high of ₹254.68 on NSE, supported by heavy volumes. It also states around 23.46 million shares worth ₹593.97 crore changed hands.

A separate technical comment says the stock is likely to consolidate around ₹260 in the near term, and if it surpasses that, it may move towards its 200-day moving average and the next resistance level of ₹320 in the medium term. These levels are presented as commentary rather than confirmed guidance.

Key numbers at a glance

Why the spread in targets matters

The numbers show that Firstsource Solutions is being valued under different assumption sets, particularly around forward multiples, discount rates, and margin trajectories. Notes citing trims and lifts in fair value indicate that small modelling changes can move the target meaningfully, even without a stated change in conviction.

For investors, the most concrete, comparable markers in the dataset are the stated 52-week range, the consensus target spread (₹215 to ₹420 in one panel), and the specific brokerage targets and ratings attached to named firms. Any decision-making based on “forecast” panels should be cross-checked against the timestamp and the underlying assumptions referenced.

Conclusion

Firstsource Solutions is trading with wide-ranging price targets across platforms and brokerages, from the low-₹300s in some analyst updates to ₹420 in at least one initiation note. The stock’s 52-week band of ₹202 to ₹403.80 and the observed bid-ask levels around mid-₹230s on 07 May 2026 frame the current market context. The next set of meaningful signals, as implied in the dataset, will come from brokerage refreshes around growth and margin expectations and any further updates to modelling assumptions that drive target revisions.