Larsen & Toubro Infotech Ltd., incorporated in the year 1996, is a Large Cap company (having a market cap of Rs 72040.48 Crore) operating in IT Software sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 3221.70 Crore, up 6.15 % from last quarter Total Income of Rs 3035.10 Crore and up 12.05 % from last year same quarter Total Income of Rs 2875.30 Crore. Company reported net profit after tax of Rs 519.30 Crore in latest quarter.
Investment Rationale
The stock has resumed its uptrend after breaking out of a falling wedge pattern on higher volumes. Further, on the weekly chart, it has constantly taken support at the short-term upward sloping moving average, i.e. 20-WMA, confirming strength in the stock. Technical indicator RSI is also confirming that the stock is trading in the bullish territory.
Promoter/FII Holdings
Promoters held 74.3 per cent stake in the company as of Dec 30, 2020, while FIIs held 13.3 per cent, DIIs 4.6 per cent and public and others 7.8 per cent.
