Buy Tech Mahindra, target Rs 740: Dr CK Narayan

Dr CK Narayan of Chart Advise has a buy call on Tech Mahindra Ltd. with a target price of Rs 740. The current market price of Tech Mahindra Ltd. is Rs 728.1 Time period given by the analyst is Intra Day when Tech Mahindra Ltd. price can reach the defined target. Dr CK Narayan recommended to keep stoploss at Rs 718. Tech Mahindra Ltd., incorporated in 1986, is a largecap company with a market cap of Rs 71448.37 crore. Tech Mahindra Ltd. key Products/Revenue Segments include Software Services which contributed Rs 23661.20 Crore to Sales Value (100.00 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-09-2018, the company has reported a Consolidated sales of Rs 8629.85 Crore, up 4.27 % from last quarter Sales of Rs 8276.28 Crore and up 13.46 % from last year same quarter Sales of Rs 7606.38 Crore Company has reported net profit after tax of Rs 1069.22 Crore in latest quarter. The company’s top management includes Mr.Anand G Mahindra, Mr.Anupam Puri, Mr.C P Gurnani, Mr.M Damodaran, Mr.Ravindra Kulkarni, Mr.T N Manoharan, Mr.Ulhas N Yargop, Mr.V S Parthasarathy, Mrs.M Rajyalakshmi Rao. Company has B S R & Co. LLP as its auditoRs As on 31-12-2018, the company has a total of 981,249,832 shares outstanding.