Sell Birlasoft, target price Rs 345: IIFL

IIFL has sell call on Birlasoft with a target price of Rs 345. The current market price of Birlasoft Ltd. is Rs 363.25. Time period given by analyst is Intra Day when Birlasoft Ltd. price can reach defined target.

Birlasoft Ltd., incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 10151.30 Crore) operating in IT Software sector.

Birlasoft Ltd. key Products/Revenue Segments include Software Development Charges for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 1084.66 Crore, up 6.23 % from last quarter Total Income of Rs 1021.04 Crore and up 21.01 % from last year same quarter Total Income of Rs 896.36 Crore. Company reported net profit after tax of Rs 113.97 Crore in latest quarter.

Investment Rationale
The stock has broken a long term support.

Promoter/FII Holdings
Promoters held 40.4 per cent stake in the company as of 31-Mar-2022, while FIIs owned 15.41 per cent, DIIs 22.67 per cent.