Elara Capital has stayed bullish on a mid-cap IT player specialising in geospatial solutions even as it reduced the target price. The domestic brokerage has assigned a target price of Rs 940 for , implying a potential upside of 104.13 per cent from Wednesday's closing level of Rs 460.50. The stock has corrected 53.09 per cent year-to-date (YTD) but remains a massive 934.83 per cent gainer over the last five years. Advertisement

Elara's optimism comes despite the company delivering, what the brokerage termed a muted performance for the September quarter (Q2) of FY26. According to Elara, the company fell short of expectations on multiple operating metrics as cost pressures continued to run ahead of revenue recognition.

For Q2 FY26, consolidated revenue increased 6.8 per cent YoY and 8.6 p

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