Buy Larsen & Toubro Infotech, target price Rs 6360: Kotak Securities

Kotak Securities has buy call on Larsen & Toubro Infotech with a target price of Rs 6360. The current market price of Larsen & Toubro Infotech is Rs 6175.6. Time period given by analyst is Intra Day when Larsen & Toubro Infotech price can reach defined target. Kotak Securities recommended to keep stoploss at Rs 6080.

Larsen & Toubro Infotech, incorporated in the year 1996, is a Large Cap company (having a market cap of Rs 108241.25 Crore) operating in IT Software sector.

Larsen & Toubro Infotech key Products/Revenue Segments include Software Development Charges & Other Services for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company has reported a Consolidated Total Income of Rs 4237.50 Crore, up 9.26 % from last quarter Total Income of Rs 3878.20 Crore and up 31.53 % from last year same quarter Total Income of Rs 3221.70 Crore. Company has reported net profit after tax of Rs 612.50 Crore in latest quarter.

Investment Rationale
Beakout from Inverse Head and Shoulder chart pattern along with incremental volume activity seen on charts.

Promoter/FII Holdings
Promoters held 74.07 per cent stake in the company as of 31-Dec-2021, while FIIs owned 12.53 per cent, DIIs 5.41 per cent.