Buy MindTree, target price Rs 770: Kunal Bothra

Kunal Bothra has a buy call on MindTree with a target price of Rs 770. The current market price of MindTree is Rs 728.1. Kunal Bothra recommended to keep a stop loss at Rs 700.

MindTree key products/revenue segments include software development charges which contributed Rs 7,021.50 crore to sales value (100.00 per cent of total sales) for the year ending 31 March, 2019.

For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 1,834.20 crore, down .28 per cent from last quarter sales of Rs 1,839.40 crore and up 11.88 per cent from last year same quarter sales of Rs 1,639.50 crore. The company has reported a net profit after tax of Rs 92.70 crore in latest quarter. The company’s top management includes Akshaya Bhargava, Anilkumar Manibhai Naik, Bijou Kurien, Krishnakumar Natarajan, Milind Sarwate, N S Parthasarathy, Rostow Ravanan, Subroto Bagchi and Apurva Purohit. The company has Deloitte Haskins & Sells as its auditor. As on 30-06-2019, the company has a total of 164,455,516 shares outstanding.