Sell Tech Mahindra, target price Rs 980: IIFL

IIFL has sell call on Tech Mahindra with a target price of Rs 980. The current market price of Tech Mahindra Ltd. is Rs 1020.05. 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 99191.74 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 31-03-2022, the company reported a Consolidated Total Income of Rs 12436.08 Crore, up 6.53 % from last quarter Total Income of Rs 11673.90 Crore and up 27.39 % from last year same quarter Total Income of Rs 9762.50 Crore. Company reported net profit after tax of Rs 1545.24 Crore in latest quarter.

Investment Rationale
The stock has broken the previous swing low.

Promoter/FII Holdings
Promoters held 35.26 per cent stake in the company as of 31-Mar-2022, while FIIs owned 34.27 per cent, DIIs 18.06 per cent.