IT Software Company To Consider Final Dividend, ICICI Direct Recommends Buy

Board of leading IT Software company, LTIMindtree Ltd is all set to consider recommendation of final dividend, if any. The meeting of the board of directors of the company is scheduled to take place on April 27, 2023 to consider the proposal to recommend final dividend for FY ended March 31, 2023, if any.

Meanwhile, ICICI Direct is upbeat on the stock and has assigned buy call with target price of Rs 5320 apiece. Current market price of the stock is Rs 4773.30 apiece. If you buy LTIMindtree share, you can expect to get potential return of 11%. Check
details below:

LTIMindtree Stock Performance & Return: Last trading price of 4773.30 apiece on BSE. The stock's 52-week high price is Rs 6390.00 apiece and 52-week low price is Rs 3733.25 apiece, respectively. The large cap company has a market capitalisation of Rs 1,41,202.82 crore. The stock rallied 13% in last 3-months, 10% YTD, 2% in last 6-months, fell 24% in last 1-year, and gave return of 12% in last 2-years. The stock jumped 252% in last 3-years and 241% in last 5-years.

LTIMindtree To Consider Interim Dividend: According to the BSE filing of the company, "Meeting of the Board of Directors of the Company will be held on Thursday, April 27, 2023, inter-alia, to consider, approve and take on record, the audited standalone and consolidated financial results of the Company for the quarter & year ended March 31, 2023, along with the Audit Report(s) of the Statutory Auditor thereon. In the aforementioned meeting, the Board of Directors will also consider the proposal to recommend final dividend on the equity shares of the Company for the financial year ended March 31, 2023, if any."

LTIMindtree Valuation: According to ICICI Direct, "We maintain our BUY rating on the stock. We value LTIM at Rs 5,320 i.e. 24x FY25E EPS. Merger expected to provide cross sell and up sell opportunities with scale benefits likely to kick in while participating in large deals hunt."

LTIMindtree About: LTIMindtree (LTIM) is the merged entity formed after the merger of erstwhile Mindtree with LTI and offers application development, IMS, digital solution services to BFSI, retail, health, media & hi-tech verticals.

Disclaimer: The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.