Time period given by analyst is three months when Firstsource Solutions Ltd. price can reach defined target.
Firstsource Solutions Ltd., incorporated in the year 2001, is a Mid Cap company (having a market cap of Rs 14121.11 Crore) operating in IT Enabled Services sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1484.79 Crore, up 1.64 % from last quarter Total Income of Rs 1460.90 Crore and up 39.80 % from last year same quarter Total Income of Rs 1062.06 Crore. Company reported net profit after tax of Rs 133.68 Crore in latest quarter.
Investment Rationale
The stock is seen resuming up move after a higher base formation near the key support area of Rs 180 being the confluence of the rising 10 weeks EMA (currently at Rs 191) and the lower band of the rising channel in place since June 2020, thus offering fresh entry opportunity. The share price during the current week registered a breakout above last three week’s range (Rs 195-178) signalling resumption of up move and the brokerage expects it to head towards its recent all time high of July 2021 placed at Rs 242 levels in the coming months.
Promoter/FII Holdings
Promoters held 53.9 per cent stake in the company as of June 30, 2020, while FIIs held 7.6 percent, DIIs 12.7 per cent and public and others 25.8 per cent.
(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.
