Buy Larsen & Toubro Infotech, target price Rs 5050: IIFL

IIFL has buy call on Larsen & Toubro Infotech with a target price of Rs 5050. The current market price of Larsen & Toubro Infotech is Rs 4860.65.

Larsen & Toubro Infotech Ltd., incorporated in the year 1996, is a Large Cap company (having a market cap of Rs 85230.14 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-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 4976.00 Crore, up 6.62 % from last quarter Total Income of Rs 4666.90 Crore and up 28.31 % from last year same quarter Total Income of Rs 3878.20 Crore. Company reported net profit after tax of Rs 679.80 Crore in latest quarter.

Investment Rationale
The stock has given a Rounding bottom breakout.

Promoter/FII Holdings
Promoters held 74.0 per cent stake in the company as of 30-Sep-2022, while FIIs owned 8.42 per cent, DIIs 8.05 per cent.