03 Dec , 2021 By : monika singh
Axis Securities has buy call on Tech Mahindra NSE -0.63 % with a target price of Rs 1700. The current market price of Tech Mahindra Ltd. is Rs 1617.1.
Time period given by analyst is one year 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 158029.50 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 30-09-2021, the company reported a Consolidated Total Income of Rs 11163.40 Crore, up 6.47 % from last quarter Total Income of Rs 10484.90 Crore and up 17.64 % from last year same quarter Total Income of Rs 9489.30 Crore. Company reported net profit after tax of Rs 1341.70 Crore in latest quarter.
Investment Rationale
The brokerage believes Tech Mahindra has a resilient business structure and better revenue growth visibility from a long-term perspective but trading at discount as compared to its Indian peers. It recommends a BUY and assign 23x P/E multiple to its FY23E earnings of Rs70.0/share, which gives a TP of Rs. 1,700/share.
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