HDFC Securities recommends buying Tech Mahindra with a target price of Rs 1550.

HDFC Securities has issued a 1% buy call on Tech Mahindra NSE, with a target price of Rs 1550. At the time of writing, the stock price of Tech Mahindra Ltd. was Rs 1385.55.

Analysts predict that the stock price of Tech Mahindra Ltd. will reach the predetermined target price in the year following the current date.

Tech Mahindra Ltd., an IT software giant founded in 1986, is a large cap (market cap of Rs 134592.53 Crore) company.

Software Services is one of Tech Mahindra Ltd.’s key products/revenue segments for the fiscal year ending March 31, 2021.

Financials The company’s consolidated total income for the three months ended June 30, 2021 was Rs 10484.90 Crore, up 7.40 percent from the previous quarter’s Total Income of Rs 9762.50 Crore and 10.11 percent from the same three-month Total Income of Rs 9522.40 Crore last year. In the most recent quarter, the company’s net profit after tax was Rs 1365.70 crore.

FII/Promoter Holdings

Promoters owned 35.8 percent of the company a year ago, FIIs 38.8 percent, DIIS 14.4 percent, and the general public 11.88 percent.

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