ICICI Direct has buy call on Mindtree with a target price of Rs 3065. The current market price of Mindtree Ltd. is Rs 2724.65. Time period given by analyst is one year when Mindtree price can reach defined target.

Mindtree, incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 45007.35 Crore) operating in IT Software sector.

For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2363.50 Crore, up 10.02 % from last quarter Total Income of Rs 2148.20 Crore and up 21.24 % from last year same quarter Total Income of Rs 1949.40 Crore. Company reported net profit after tax of Rs 343.40 Crore in latest quarter.

Investment Rationale
Mindtree share price has grown by ~4x over the past five years (from ~Rs 650 in Jul 2016 to ~Rs 2622 levels in July 2021). The brokerage values Mindtree at Rs 3065 i.e. 32x P/E on FY23E.

Promoter/FII Holdings
Promoters held 61 per cent stake in the company as of March 31, 2021, while FIIs held 13.9 per cent, DIIs 10.9 per cent and public and others 14.2 per cent.

(Disclaimer: 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.

(Whats moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

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

Write us

Find us at the office

Blotner- Kwas street no. 55, 39246 Canberra, Australia

Give us a ring

Dymon Rothfuss
+78 715 483 676
Mon - Fri, 10:00-22:00

Write us