Mindtree’s stock price rose three percent but removed the rapid increase in early trading on April 19 a day after the company came out with March quarter income.
It touches the highest intraday rs 4,080 and low intraday RS 3.931.
In the previous trading session, shares closed down 3.33 percent or Rs 136.35 at Rs 3,960.80.
Mindtree on April 18 reported the consolidated net income of Rs 473.1 Crore for the quarter ended in March, growth in 49 percent. Sequentially, the growth of eight percent.
Larsen & Toubro Group Company has reported consolidation profit after tax (PAT) RS 317.3 Crore during the period in accordance last year. Faulunnya during the December Quarter stood at Rs 437.5 Crore.
Revenue for a quarter review came at Rs 2,897.4 Crore, growth of 37 percent over the period last year. Quarterly, the growth of five percent.
The company has reported the consolidated income of Rs 2,109.3 Crore during the quarter in accordance last year. Revenue during October-December stood at Rs 2,750 Crore.
This is what the broker said about stock and company after income:
Goldman Sachs.
Goldman Sachs research company has maintained a neutral rating on shares with targets at Rs 3,744 per share.
The results are in line with the prospect of strong demand, but broking companies reduce EPS estimates (earnings per share) of 2-3% over FY23-26.
This estimates revenue growth of 23/13% dollars for FY23E / 24 and margins at 20%.
Nomura.
Brokerage House has maintained a neutral rating on shares with targets at Rs 4,320.
Strong growth continues and records a signal that it will continue.
The client’s metric leads to the right direction, but the agreement wins continues to be slow, while growth comes from a smaller project.
Morgan Stanley.
Home research has maintained the same heavy rating and cut target prices from Rs 5,100 to 4,450 per share.
The results are in line with constructive management comments.
Even though the macro is volatile, the estimated street eps appear can be achieved.
Prabhudas Lilladher.
“Our EPS estimates are mostly unchanged. Our DCF-based target price is rs 4,778 (previously RS 5157) with an implied revenue target of 35x on FY24 EPS (earlier 38x) increases the risk free level to 7.2% (earlier 6, 8%) and moderation at the terminal growth rate.
“Mindtree is currently trading at 34x / 29x on income RS 116/135 for FY23 / 24 each with income / EPS annual growth of compounds 17/16% for FY22-24E. Maintain purchases.”
Oswal Maleral.
“Increasing the focus of management on revenue of strategic annuities and accounts is reflected in the income and mix of clients.
“Strong outlook about strategic accounts, the signing of a decent agreement, and the ability to maintain an increase in margins is the main positive thing.
“Stocks are now traded at EPS 28X FY24E. Because the main positive has been arrested, we see the upper side of the next limited. Our target price Rs 4,230 per share implies 30x FY24E EPS. We maintain our neutral rating.”
Yes securities
“We maintain an increase in stock with the target price of Rs 4507, assessing stock at 34x on EPS FY24E.
“We have reduced our target of multiples of PE from 41x to 34x to explain higher capital costs in the future. Stocks traded at 29.9x at EPS FY24E.”
At 09:18 HRS Mindtree quoted at Rs 3,945.15, down RS 15.65 or 0.40 percent in BSE.
