Buy Intellect Design Arena, target price Rs 845: ICICI Direct

ICICI Direct has buy call on with a target price of Rs 845. The current market price of Intellect Design Arena Ltd. is Rs 773.95. Time period given by analyst is 14 days when Intellect Design Arena Ltd. price can reach defined target.

Intellect Design Arena Ltd., incorporated in the year 2011, is a Small Cap company (having a market cap of Rs 10318.15 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 400.38 Crore, up 3.61 % from last quarter Total Income of Rs 386.43 Crore and up 10.91 % from last year same quarter Total Income of Rs 361.01 Crore. Company reported net profit after tax of Rs 73.92 Crore in latest quarter.
Investment Rationale
The stock has registered a breakout above the falling trendline joining recent highs of 10th May 2021(Rs 848) and 25th May 2021 (Rs 794) signalling resumption of the primary up trend, that makes the brokerage confident to believe, stock would resolve higher and head towards its all time high Rs 848 in the coming weeks


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