Buy Tech Mahindra, target price Rs 1480: Kotak Securities

Kotak Securities has buy call on Tech Mahindra Ltd. with a target price of Rs 1480. The current market price of Tech Mahindra Ltd. is Rs 1438.75.

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 139321.20 Crore) operating in IT Software sector.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 10484.90 Crore, up 7.40 % from last quarter Total Income of Rs 9762.50 Crore and up 10.11 % from last year same quarter Total Income of Rs 9522.40 Crore. Company reported net profit after tax of Rs 1365.70 Crore in latest quarter.

Investment Rationale
Strong uptrend and the Doji candlestick formation near its short-term moving averages

Promoter/FII Holdings
Promoters held 35.8 per cent stake in the company as of Sept 30, 2020, while FIIs held 38 per cent, DIIs 14.4 per cent and public and others 11.8 per cent.