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Hold MindTree; target of Rs 5055: ICICI Direct

ICICI Direct recommended hold rating on MindTree with a target price of Rs 5055 in its research report dated January 17, 2022.

February 28, 2022 / 02:39 PM IST
 
 
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ICICI Direct's research report on MindTree


Mindtree Ltd (Mindtree) is a mid-tier IT company with a presence in the US, Europe & RoW catering to BFSI, communication media & technology, retail & travel. • Expertise in infrastructure & application catering to Global 2000 clients • Leading margins (>20%) compared to mid-tier IT companies.


Outlook


We maintain HOLD rating on the stock . We value Mindtree at Rs 5,055 i.e. 40x P/E on FY24E.


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At 16:00 hrs Mindtree was quoting at Rs 4,350.00, down Rs 160.35, or 3.56 percent.

It has touched an intraday high of Rs 4,532.65 and an intraday low of Rs 4,313.05.

It was trading with volumes of 31,000 shares, compared to its thirty day average of 34,146 shares, a decrease of -9.21 percent.

In the previous trading session, the share closed down 0.76 percent or Rs 34.65 at Rs 4,510.35.

The share touched its 52-week high Rs 5,059.15 and 52-week low Rs 1,539.85 on 18 November, 2021 and 24 February, 2021, respectively.

Currently, it is trading 14.02 percent below its 52-week high and 182.5 percent above its 52-week low.

Market capitalisation stands at Rs 71,700.45 crore.

For all recommendations report, click here


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first published: Jan 18, 2022 04:14 pm
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