Buy Larsen & Toubro Infotech, target price Rs 4580: ICICI Direct

ICICI Direct has buy call on Larsen & Toubro Infotech with a target price of Rs 4580. The current market price of Larsen & Toubro Infotech Ltd. is Rs 4270.

Time period given by analyst is one year when Larsen & Toubro Infotech Ltd. price can reach defined target.
Larsen & Toubro Infotech Ltd., incorporated in the year 1996, is a Large Cap company (having a market cap of Rs 74845.41 Crore) operating in IT Software sector.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 3584.10 Crore, up 6.28 % from last quarter Total Income of Rs 3372.40 Crore and up 18.88 % from last year same quarter Total Income of Rs 3015.00 Crore. Company reported net profit after tax of Rs 496.80 Crore in latest quarter.

Investment Rationale
Larsen & Toubro Infotech’s (LTI) ability to deliver end-to-end solutions is expected to help in registering industry leading growth

Promoter/FII Holdings
Promoters held 74.3 per cent stake in the company as of Dec 30, 2020, while FIIs held 13.3 per cent, DIIs 4.6 per cent and public and others 7.8 per cent.