Buy L&T Technology Services, target price Rs 2740: Edelweiss

Edelweiss has buy call on L&T Technology Services with a target price of Rs 2740. The current market price of L&T Technology Services Ltd. is Rs 1833.

L&T Technology Services Ltd., incorporated in the year 2012, is a Mid Cap company (having a market cap of Rs 19188.82 Crore) operating in IT Software sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1313.80 Crore, up 1.48 % from last quarter Sales of Rs 1294.70 Crore and down -6.30 % from last year same quarter Sales of Rs 1402.10 Crore Company reported net profit after tax of Rs 166.30 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 74.6 per cent stake in the company as of June 30, 2020, while FIIs held 9 per cent, DIIs 4.4 per cent and public and others 12 per cent.