Buy L&T Technology Services, target price Rs 3040: Motilal Oswal

Motilal Oswal has buy call on L&T Technology Services Ltd. with a target price of Rs 3040. The current market price of L&T Technology Services Ltd. is Rs 2748.7.

L&T Technology Services Ltd., incorporated in the year 2012, is a Mid Cap company (having a market cap of Rs 28852.15 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1449.50 Crore, up 5.77 % from last quarter Total Income of Rs 1370.40 Crore and down -1.21 % from last year same quarter Total Income of Rs 1467.20 Crore. Company reported net profit after tax of Rs 186.90 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.