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Axis Securities has buy call on Tech Mahindra with a target price of Rs 1700. The current market price of . is Rs 1189. Time period given by analyst is one year when Ltd. price can reach defined target.
Tech Mahindra Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 116882.41 Crore) operating in IT Software sector.
Tech Mahindra Ltd. key Products/Revenue Segments include Software Services for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 12436.08 Crore, up 6.53 % from last quarter Total Income of Rs 11673.90 Crore and up 27.39 % from last year same quarter Total Income of Rs 9762.50 Crore. Company reported net profit after tax of Rs 1545.24 Crore in latest quarter.
Investment Rationale
The brokerage recommends a BUY rating on the stock and assign a 20x P/E multiple to the company’s FY24E earnings of Rs 83.7/share to arrive at a TP of Rs 1,700/share. TP implies an upside of 41% from CMP.
Promoter/FII Holdings
Promoters held 35.26 per cent stake in the company as of 31-Mar-2022, while FIIs owned 34.27 per cent, DIIs 18.06 per cent.
Tech Mahindra Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 116882.41 Crore) operating in IT Software sector.
Tech Mahindra Ltd. key Products/Revenue Segments include Software Services for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 12436.08 Crore, up 6.53 % from last quarter Total Income of Rs 11673.90 Crore and up 27.39 % from last year same quarter Total Income of Rs 9762.50 Crore. Company reported net profit after tax of Rs 1545.24 Crore in latest quarter.
Investment Rationale
The brokerage recommends a BUY rating on the stock and assign a 20x P/E multiple to the company’s FY24E earnings of Rs 83.7/share to arrive at a TP of Rs 1,700/share. TP implies an upside of 41% from CMP.
Promoter/FII Holdings
Promoters held 35.26 per cent stake in the company as of 31-Mar-2022, while FIIs owned 34.27 per cent, DIIs 18.06 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
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