Emkay Global has hold call on Mindtree with a target price of Rs 4300. The current market price of Mindtree is Rs 3665.5. Time period given by analyst is one year when MindTree Ltd. price can reach defined target.

MindTree Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 59824.33 Crore) operating in IT Software sector.

MindTree Ltd. key Products/Revenue Segments include Software Development Charges for the year ending 31-Mar-2021.


For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 2820.80 Crore, up 6.01 % from last quarter Total Income of Rs 2661.00 Crore and up 35.27 % from last year same quarter Total Income of Rs 2085.30 Crore. Company reported net profit after tax of Rs 437.50 Crore in latest quarter.

Investment Rationale
MTCL has delivered a strong operating performance over the last few quarters, and it expects to sustain the momentum in FY23 on the back of strong broad-based demand. The brokerage maintains Hold on the stock with a TP of Rs 4,300 at 33x Mar’24E EPS.

Promoter/FII Holdings
Promoters held 61.0 per cent stake in the company as of 31-Dec-2021, while FIIs owned 15.72 per cent, DIIs 9.71 per cent.

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