Buy Mindtree, target price Rs 4800: IIFL

IIFL has buy call on MindTree with a target price of Rs 4800. The current market price of MindTree Ltd. is Rs 4648.65.

Time period given by analyst is Intra Day when MindTree Ltd. price can reach defined target.

MindTree Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 76484.98 Crore) operating in IT Software sector.


MindTree Ltd. key Products/Revenue Segments include Software Development Charges for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 2661.00 Crore, up 12.59 % from last quarter Total Income of Rs 2363.50 Crore and up 36.43 % from last year same quarter Total Income of Rs 1950.50 Crore. Company reported net profit after tax of Rs 398.90 Crore in latest quarter.


Investment Rationale
Stock has given a consolidation breakout and its futures contract has added fresh long positions

Promoter/FII Holdings
Promoters held 61.02 per cent stake in the company as of 30-Jun-2021, while FIIs owned 13.66 per cent, DIIs 11.98 per cent.