Mphasis share price: broker targets and upside in 2026

What moved the stock on 18 May 2026

Mphasis traded at ₹2,148.50 on 18 May 2026, up ₹65.30 (3.13%) as of 03:57. The day’s range on the screen was ₹2,063.60 to ₹2,158.10, indicating a volatile session with buying interest into strength. Another print in the same data set shows ₹2,156.70, up ₹74.20 (3.56%), underscoring the intraday swings around the ₹2,150 zone. The broader context in the feed is broker and analyst commentary, with multiple target prices clustered well above the then-traded levels.

Where the price sits versus key highs and lows

The historical snapshot in the data set puts Mphasis’ current share price at ₹2,147.25. Its 52-week high is listed at ₹3,035.15 and the 52-week low at ₹2,033.65. That places the stock closer to its 52-week low than its peak, which is consistent with the “undervalued” narrative appearing alongside several analyst notes. The range also gives investors a clear reference for how much of the prior rally has been given up.

BSE market depth: what the order book showed

BSE market depth for 18 May 2026 shows buyers clustered around ₹2,130 to ₹2,095, including bids at ₹2,130 (qty 23), ₹2,103.10 (qty 1), ₹2,100 (qty 2), ₹2,099 (qty 2) and ₹2,095 (qty 3). On the sell side, offers were visible at higher levels such as ₹2,162.90 (qty 50), ₹2,168 (qty 40), ₹2,170 (qty 1), ₹2,174.95 (qty 35) and ₹2,179.80 (qty 112). While market depth is a moment-in-time view, the spread between the stronger bids and higher offers suggested sellers were positioned above the prevailing traded zone, with buyers building closer to ₹2,100-₹2,130.

Broker research calls: a cluster of targets above ₹2,600

The broker research list includes multiple “Buy” recommendations and target prices, several of them linked to a recommendation price of ₹2,277.75. ICICI Securities (dated 3 May 2026) shows a target price of ₹2,620. Motilal Oswal (30 Apr 2026) shows a target of ₹3,100, while Prabhudas Lilladher (30 Apr 2026) shows ₹3,000 and Choice Institutional Equities (30 Apr 2026) shows ₹2,625. These targets indicate a wide view on upside, even when the entry or reference price is similar.

Motilal Oswal’s FY25-28 growth view and valuation approach

A separate Motilal Oswal note in the data set states that over FY25-28 it forecasts a USD revenue CAGR of around 10.8% and an INR PAT CAGR of around 14%. It values the stock at 26x FY28E earnings per share, arriving at a target price of ₹3,400, reiterating a Buy rating (dated February 23, 2026). The same broker research list also shows older Motilal Oswal calls, including a target of ₹3,900 (dated 22 Jan 2026) with a recommendation price of ₹2,812.80.

Analyst targets and “fair value” adjustments in the narrative

The analyst-target section flags “18.9% undervalued” for an analyst consensus target (labelled 6d ago), and also lists “39.0% undervalued” for a high target (labelled 2mo ago) and “0.8% undervalued” for a low target (labelled 2mo ago). Another screen states analysts have trimmed their fair value estimate for Mphasis from about ₹2,716.83 to roughly ₹2,646.33, citing updated assumptions around discount rate, revenue growth, profit margin and a future P/E multiple. The feed also includes several versions of target adjustments, including a move from ₹2,880.86 to ₹2,716.83 and another trim from about ₹3,106 to around ₹2,881, as well as small increases in some cases (for example, to around ₹3,064 and to ₹3,058 from ₹3,006).

Big-ticket upgrades: Morgan Stanley and other brokerages

The data set notes Mphasis rose 2.38% to ₹2,854.30 on a Monday after Morgan Stanley raised its target to ₹3,625 from ₹3,500, implying nearly 30% upside from Friday’s closing levels in that context. It also says Morgan Stanley raised revenue growth estimates for FY27 and FY28, and lists Mphasis market capitalisation at ₹550.75 billion, with trading in a ₹2,808 to ₹2,858 range on that day.

Another news-style entry says Mphasis rose 2.4% to ₹2,689, after the stock had lost 4% on Friday following first-quarter results. It adds that Investec maintained a Buy and raised its target price to ₹2,980 from ₹2,665, while Nomura maintained Neutral and raised its target to ₹2,760 from ₹2,700. LSEG-compiled data is cited for a median target price of ₹2,950, and performance notes show the stock down 5.6% year-to-date versus Nifty IT down 18.44% year-to-date.

Key numbers at a glance

Broker targets mentioned in the feed

Market impact: what the data suggests investors are tracking

The combined inputs point to a stock that is being re-rated through competing forces: near-term price volatility and a steady stream of target updates linked to valuation assumptions. Targets span from the low-end estimate of ₹2,140 to the high-end estimate of ₹3,625 as shown in the feed, while broker targets in the same dataset include ₹2,620, ₹2,625, ₹2,760, ₹2,980, ₹3,000, ₹3,100 and ₹3,400. At the same time, the “fair value” commentary shows analysts adjusting discount rates, growth outlook and margin profiles, which can mechanically move target prices even without a change in long-term strategy.

Conclusion

Mphasis’ May 2026 trading action sits alongside a dense set of broker notes, upgrades and target revisions. The data points to a broad target range and ongoing tweaks to valuation assumptions, with no block deal data shown in the feed. Investors will likely continue to track how broker models evolve around growth, margins and forward multiples as fresh updates and quarterly signals come in.