Buy Larsen & Toubro Infotech, target price Rs 7019: ICICI Direct

ICICI Direct has buy call on Larsen & Toubro Infotech with a target price of Rs 7019. The current market price of Larsen & Toubro Infotech is Rs 6809.85.

Time period given by analyst is intraday 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 119731.32 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 30-09-2021, the company reported a Consolidated Total Income of Rs 3878.20 Crore, up 8.21 % from last quarter Total Income of Rs 3584.10 Crore and up 27.78 % from last year same quarter Total Income of Rs 3035.10 Crore. Company reported net profit after tax of Rs 551.70 Crore in latest quarter.

Investment Rational
Price resuming uptrend after taking support at 50 day EMA

Promoter/FII Holdings
Promoters held 74.09 per cent stake in the company as of 30-Sep-2021, while FIIs owned 13.25 per cent, DIIs 4.73 per cent.