Neutral on Tech Mahindra, target price Rs 1085: Motilal Oswal

Motilal Oswal has neutral call on Tech Mahindra with a target price of Rs 1085. The current market price of Tech Mahindra Ltd. is Rs 985.25.

Tech Mahindra Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 95905.50 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 9868.00 Crore, up 3.99 % from last quarter Total Income of Rs 9489.30 Crore and down -1.36 % from last year same quarter Total Income of Rs 10004.20 Crore. Company reported net profit after tax of Rs 1289.60 Crore in latest quarter.


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.