Buy Larsen & Toubro Infotech, target price Rs 4640: ICICI Direct

ICICI Direct has buy call on Larsen & Toubro Infotech with a target price of Rs 4640. The current market price of Larsen & Toubro Infotech is Rs 4300. Time period given by analyst is 14 days 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 75482.72 Crore) operating in IT Software sector.

Larsen & Toubro Infotech Ltd. key Products/Revenue Segments include Software Development Charges & Other 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 4435.60 Crore, up 4.67 % from last quarter Total Income of Rs 4237.50 Crore and up 31.53 % from last year same quarter Total Income of Rs 3372.40 Crore. Company reported net profit after tax of Rs 637.50 Crore in latest quarter.

Investment Rationale
The brokerage expects the stock to continue with its up move and head towards Rs 4640 levels in the coming weeks as it is measuring implication of last 5 days range breakout.

Promoter/FII Holdings
Promoters held 74.05 per cent stake in the company as of 31-Mar-2022, while FIIs owned 10.08 per cent, DIIs 7.48 per cent.