Shares of Sagility India Ltd. are locked in another 5% upper circuit on Thursday. This is the eighth straight day of gains for the stock. The stock had gained 5% on Tuesday as well.

The stock has risen 30% during these last eight sessions.

Sagility has received bullish commentary from two foreign brokerages over the last week.

On December 20, brokerage firm Jefferies had initiated coverage on the stock with a “buy” rating and a price target of ₹52.

Jefferies wrote in its note that Sagility is well positioned to gain market share and it anticipated the company’s revenue and net profit to grow at a Compounded Annual Growth Rate (CAGR) of 12% and 40% respectively over financial year 2025 – 2027.

It also expects Sagility’s EBIT margin to nearly double during this period to 16.5%.

Similarly, JPMorgan on Tuesday initiated coverage on Sagility with an “overweight” rating and a price target of ₹54.

The brokerage said that secular tailwinds are arising for the stock due to increasing outsourcing in the US healthcare market and the brokerage is expecting an adjusted earnings CAGR of 18% over financial year 2024-2027.

Shares of Sagility India are trading 5% higher at ₹51.37. The stock has nearly doubled from its IPO price of ₹30 and has gained over 60% in the last one month.