Multibagger stock to buy: If you are looking for strong quality stocks, then you can keep an eye on IT consulting and services company Mindtree. Domestic brokerage firms are buoyed by the company’s stock and have given it a ‘BUY’ rating.
Brokerage house IIFL is bullish on this IT stock and has set a target price of 4300. Let us inform that the latest share price of Mindtree Limited is Rs 4,088.
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performance of company shares
The IT stock has risen from Rs 437.45 (close on NSE March 17, 2017) to Rs 4,088 in five years, giving a return of 763.45%. At the same time, this stock has given a multibagger return of 111.62 percent in the last one year. MindTree Ltd stock rose from Rs 1931.80 on 15 March 2021 to Rs 4,088 on 11 March on NSE. The stock has gained 3.86 per cent in the last six months and 6.88 per cent in the last five trading sessions. However, the stock is still down 15.57 per cent on this year’s (YTD) basis. Let us tell you that it is a mid cap company and its market cap is Rs 67,391.01 crore.
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financial position of the company
For the quarter ended 31-12-2021, the company reported consolidated total income of Rs 2820.80 crore, a growth of 6.01% over the previous quarter total income of Rs 2661.00 crore. In the latest quarter, the company reported a net profit of Rs 437.50 crore after paying taxes. Promoters held 61.0 per cent stake in the company as of December 31-December-2021, while FIIs held 15.72 per cent, DIIs held 9.71 per cent.
(Disclaimer: Investment advice in stocks is given by brokerage house. These are not personal views of Live Hindustan. Markets are risky, so take expert opinion before investing.)