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Buy Larsen and Toubro Infotech; target of Rs 8050: ICICI Direct

ICICI Direct is bullish on Larsen and Toubro Infotech recommended buy rating on the stock with a target price of Rs 8050 in its research report dated January 20, 2022.

February 28, 2022 / 02:41 PM IST
 
 
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ICICI Direct's research report on Larsen and Toubro Infotech


Larsen & Toubro Infotech (LTI) offers application development, IMS, digital solution services to BFSI, retail, health, media & hi-tech verticals. LTI has 71 Fortune-500 clients with a presence in North America & Europe • LTI has grown at 14% CAGR over FY18-21 with robust margins (~19%).


Outlook


Maintain BUY rating on the stock We value LTI at Rs 8050 i.e. 42x FY23E EPS.


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At 14:44 hrs Larsen & Toubro Infotech was quoting at Rs 6,637.90, down Rs 54.50, or 0.81 percent.

It has touched an intraday high of Rs 6,928.00 and an intraday low of Rs 6,575.00.

It was trading with volumes of 19,612 shares, compared to its thirty day average of 15,435 shares, an increase of 27.06 percent.

In the previous trading session, the share closed down 2.60 percent or Rs 178.60 at Rs 6,692.40.

The share touched its 52-week high Rs 7,595.25 and 52-week low Rs 3,525.95 on 04 January, 2022 and 17 May, 2021, respectively.

Currently, it is trading 12.6 percent below its 52-week high and 88.26 percent above its 52-week low.

Market capitalisation stands at Rs 116,311.14 crore.

For all recommendations report, click here


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first published: Jan 20, 2022 01:16 pm
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