Buy Tech Mahindra, target price Rs 865: Motilal Oswal

Motilal Oswal has given a buy rating to Tech Mahindra with a target price of Rs 865. The share price moved up by 0.55 per cent from its previous close of Rs 822.65. The stock’s last traded price is Rs 827.15.

Tech Mahindra Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 79468.11 Crore) operating in IT Software sector.

Tech Mahindra Ltd. key Products/Revenue Segments include Software Services which contributed Rs 27219.60 Crore to Sales Value (100.00 % of Total Sales)for the year ending 31-Mar-2019.


Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 9106.30 Crore, down 4.05 % from last quarter Sales of Rs 9490.20 Crore and up 5.24 % from last year same quarter Sales of Rs 8653.00 Crore. The Company reported net profit after tax of Rs 955.50 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 35.8 per cent stake in the company as of June 30, 2020, while FIIs held 39.6 per cent, DIIs 13.2 per cent and public and others 11.3 per cent.