Buy Firstsource Solutions, target price Rs 147: ICICI Securities

ICICI Securities has buy call on Firstsource Solutions with a target price of Rs 147. The current market price of Firstsource Solutions is Rs 140.8. ICICI Securities recommended to keep stop loss at Rs 134.

Firstsource Solutions, incorporated in the year 2001, is a Mid Cap company (having a market cap of Rs 9820.60 Crore) operating in IT Enabled Services sector.

Firstsource Solutions key Products/Revenue Segments include I T Enabled Services and Other Operating Revenue for the year ending 31-Mar-2023.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 1569.48 Crore, up .13 % from last quarter Total Income of Rs 1567.37 Crore and up 1.68 % from last year same quarter Total Income of Rs 1543.54 Crore. Company has reported net profit after tax of Rs 141.30 Crore in latest quarter.

Investment Rationale
Flag breakout signifies continuation of upward momentum and RSI in buy mode

Promoter/FII Holdings
Promoters held 53.66 per cent stake in the company as of 30-Jun-2023, while FIIs owned 9.99 per cent, DIIs 13.44 per cent.