Buy Mahindra Logistics, target price Rs 690: ICICI Direct

ICICI Direct has buy call on Mahindra Logistics with a target price of Rs 690. The current market price of Mahindra Logistics is Rs 592. Time period given by analyst is three months when Mahindra Logistics Ltd. price can reach defined target.

Mahindra Logistics Ltd., incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 4187.70 Crore) operating in Logistics sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 978.65 Crore, down -6.66 % from last quarter Total Income of Rs 1048.51 Crore and up 20.10 % from last year same quarter Total Income of Rs 814.87 Crore. Company reported net profit after tax of Rs 12.41 Crore in latest quarter.

Investment Rationale
The brokerage expects the stock to head towards Rs 690 in the coming months as it is the 161.8% external retracement of the last three months decline (Rs 615-498)

(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)