Buy Larsen & Toubro Infotech, target price Rs 4435: ICICI Securities

ICICI Securities has buy call on Larsen & Toubro Infotech with a target price of Rs 4435. The current market price of Larsen & Toubro Infotech is Rs 4109.1.

Larsen & Toubro Infotech Ltd., incorporated in the year 1996, is a Large Cap company (having a market cap of Rs 71382.95 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 3221.70 Crore, up 6.15 % from last quarter Total Income of Rs 3035.10 Crore and up 12.05 % from last year same quarter Total Income of Rs 2875.30 Crore. Company reported net profit after tax of Rs 519.30 Crore in latest quarter.

Investment Rationale
A bullish Flag breakout and a higher base above the 100 days EMA and RSI in buy mode

Promoter/FII Holdings
Promoters held 74.3 per cent stake in the company as of Dec 30, 2020, while FIIs held 13.3 per cent, DIIs 4.6 per cent and public and others 7.8 per cent.