Mindtree Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 41286.19 Crore) operating in IT Software sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2148.20 Crore, up 3.02 % from last quarter Total Income of Rs 2085.30 Crore and up 3.84 % from last year same quarter Total Income of Rs 2068.80 Crore. Company reported net profit after tax of Rs 317.30 Crore in latest quarter.
Investment Rationale
The share price of Mindtree is in a secular uptrend forming higher peak and higher trough in all time frame. It has recently generated a breakout above seven weeks range (2310-1951) signalling acceleration of the up move. It expects the stock to head towards Rs 2670 levels in the coming weeks being the measuring implication of the recent range breakout (2310- 1950=360 points) added to the breakout area of 2310 signalling upside towards 2670 levels.
Promoter/FII Holdings
Promoters held 61 per cent stake in the company as of Dec 30, 2020, while FIIs held 13.3 per cent, DIIs 10.6 per cent and public and others 15.1 per cent.
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