Buy TeamLease Services, target price Rs 3820: ICICI Direct

ICICI Direct has buy call on TeamLease Services with a target price of Rs 3820. The current market price of TeamLease Services Ltd. is Rs 3357.3.

TeamLease Services Ltd., incorporated in the year 2000, is a Mid Cap company (having a market cap of Rs 5737.08 Crore) operating in Services sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1285.27 Crore, up 12.69 % from last quarter Total Income of Rs 1140.56 Crore and down -5.40 % from last year same quarter Total Income of Rs 1358.67 Crore. Company reported net profit after tax of Rs 23.50 Crore in latest quarter.


Investment Rationale
Structurally, it has completely retraced its 23 months decline (Rs 3309 to Rs 1420) in just nine months. A faster retracement in less than half the time interval signals strength and robust price structure