Hold TeamLease; target of Rs 2540: ICICI Direct

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ICICI Direct's research report on TeamLease

TeamLease Ltd (TLL) is one of the leading providers of human resource services in the organised segment with ~6% share in flexi staffing. Employment services include temporary staffing solutions, IT staffing, regulatory consultancy for labour law compliance and training & skills • Net debt free and healthy double digit RoCE (>14%) key positives.

Outlook

We change our rating on the stock from BUY to HOLD. We value TeamLease at Rs 2540 i.e. 26x P/E on FY25E.

For all recommendations report, click here

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TeamLease - 14 -11-2022 - icici