Buy Larsen & Toubro Infotech, target price Rs 7800: Edelweiss

Edelweiss has buy call on Larsen & Toubro Infotech Ltd. with a target price of Rs 7800. The current market price of Larsen & Toubro Infotech Ltd. is Rs 7292.95.

Time period given by analyst is Intra Day 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 127724.51 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 Rationale
Follow-through move to the breakout from a tight trading range ensuring a fresh lifetime high

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.