Buy Tech Mahindra, target price Rs 1800: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Tech Mahindra with a target price of Rs 1800. The current market price of Tech Mahindra Ltd. is Rs 1723.45.

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 167159.36 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 30-09-2021, the company reported a Consolidated Total Income of Rs 11163.40 Crore, up 6.47 % from last quarter Total Income of Rs 10484.90 Crore and up 17.64 % from last year same quarter Total Income of Rs 9489.30 Crore. Company reported net profit after tax of Rs 1341.70 Crore in latest quarter.

Investment Rationale
Making higher lows from the last three weeks and closed above its 50 DEMA with support based buying

Promoter/FII Holdings
Promoters held 35.7 per cent stake in the company as of 30-Sep-2021, while FIIs owned 35.55 per cent, DIIs 16.9 per cent.