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    Buy Mindtree, target price Rs 1485: Kotak Securities

    Synopsis

    Mindtree Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 23577.04 Crore) operating in IT Software sector.

    Mindtree
    Promoters held 67.6 per cent stake in the company as of Sept 30, 2020, while FIIs held 12.02 per cent, DIIs 8.96 per cent and public and others 11.43 per cent
    Kotak Securities has buy call on Mindtree with a target price of Rs 1485. The current market price of MindTree Ltd. is Rs 1430.1.

    MindTree Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 23577.04 Crore) operating in IT Software sector.

    MindTree Ltd. key Products/Revenue Segments include Software Development Charges which contributed Rs 7764.30 Crore to Sales Value (100.00 % of Total Sales)for the year ending 31-Mar-2020.

    Financials
    For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1926.00 Crore, up .90 % from last quarter Sales of Rs 1908.80 Crore and up .61 % from last year same quarter Sales of Rs 1914.30 Crore Company reported net profit after tax of Rs 253.70 Crore in latest quarter.

    Investment Rationale
    Symmetrical triangle breakout with rise in volume activity seen on daily chart.

    Promoter/FII Holdings
    Promoters held 67.6 per cent stake in the company as of Sept 30, 2020, while FIIs held 12.02 per cent, DIIs 8.96 per cent and public and others 11.43 per cent



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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