Buy Tech Mahindra, target price Rs 1470: Kotak Securities

Kotak Securities has buy call on Tech Mahindra with a target price of Rs 1470. The current market price of Tech Mahindra is Rs 1427.3. Time period given by analyst is Intra Day when Tech Mahindra Ltd. price can reach defined target.

Tech Mahindra Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 138469.22 Crore) operating in IT Software sector.

Tech Mahindra Ltd. key Products/Revenue Segments include Software Services for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 11673.90 Crore, up 4.57 % from last quarter Total Income of Rs 11163.40 Crore and up 18.30 % from last year same quarter Total Income of Rs 9868.00 Crore. Company reported net profit after tax of Rs 1378.90 Crore in latest quarter.

Investment Rationale
Breakout from the sloping channel pattern with pick-up in volume activity indicates bullish trend.

Promoter/FII Holdings
Promoters held 35.67 per cent stake in the company as of 31-Dec-2021, while FIIs owned 35.36 per cent, DIIs 17.23 per cent.