The IT services provider delivered $296 million in quarterly revenue, marking its 12th consecutive quarter of sequential growth behind a 9% constant-currency increase in banking and financial services. Bolstered by four major contract wins and 17 new client additions, management upgraded the lower end of its FY27 constant-currency revenue growth projection to 10.5–13%. Brokerage Anand Rathi responded by projecting a 16.2% compound annual earnings growth rate from FY27 to FY29, issuing a buy recommendation. The firm's positive forecast arrives despite a 2% decline in healthcare revenues and unproven incremental monetization from AI offerings.
Key points
Strong deal conversions with four large contracts exceeding $5 million supported an incre…: Strong deal conversions with four large contracts exceeding $5 million supported an increase in the FY27 midpoint revenue growth guidance to 11.75%.
Anand Rathi adjusted its projected earnings per share compound annual growth rate to 16.2…: Anand Rathi adjusted its projected earnings per share compound annual growth rate to 16.2% spanning fiscal years 2027 through 2029.
Revenue conversion faces near-term headwind risks linked to phased deal rollouts and unce…: Revenue conversion faces near-term headwind risks linked to phased deal rollouts and uncertain monetization timelines for AI products.
Sources checked by our analysis pipeline: 1
Stocks to buy after Q2 Results 2026: Shares of Firstsource Solutions Ltd (FSL) have been on an uptrend in October 2026, rising from ₹248 to ₹303 apiece on the NSE, delivering over 20% returns to its shareholders. However, Anand Rathi believes the IT stock has further upside potential following the announcement of Q2 2026 results. The brokerage has given a ‘buy’ tag to the IY stock, predicting the FSL share price target of ₹384 in 12 months. Firstsource Solutions' share price today is around ₹305 per share, suggesting Anand Rathi expects FSL shares to rally 25% over the next year.
Decoding FSL's Q2 Results 2026, Anand Rathi report said, "Firstsource Solutions (FSL) reported Q2FY27 revenue of $296mn (+2.0% q/q cc), marking its 12th consecutive quarter of sequential growth. Operating EBIT margin moderated 60bps q/q to 12.6%, while reported EBIT margin expanded 10bps q/q to 12.5%, despite annual wage hikes and upfront onboarding of ~3,000 employees. Growth remained BFS-led (+9% q/q cc), while Healthcare declined 2%. Cognizant echoed this divergence, citing double-digit BFSI growth on sustained AI-led demand, while regulatory and…
The largest heist in the history of cryptocurrency was executed in just 20 minutes. An explainer details the events of the incident and how the historic theft was carried out. Further specifics regarding the exact methods, targeted platform, and total value taken were not disclosed in the initial report.
Markets watchdog Sebi concluded its enforcement proceedings against the investment banking subsidiary without finding any fraudulent intent or investor harm. Parent firm Axis Bank confirmed the formal reprimand alongside disclosures showing minimal operational exposure to the restricted debt activities. The lender expects the resolution of the regulatory review to leave its broader consolidated business unaffected.
The exchange confirmed it will fully cover customer losses following an unprecedented breach that siphoned billions across ten separate blockchain networks. Blockchain intelligence analysts attributed the rapid exploitation to North Korea-linked cyber unit TraderTraitor, though official attribution from the trading platform remains pending. Major stablecoin issuers swiftly intervened to freeze a significant portion of the illicitly transferred funds.