Technology trends share price target

Asian markets are trading mixed as investors take note of U.S. President-elect Joe Biden's $1.9 trillion coronavirus rescue package, which includes stimulus checks as well as unemployment support; while investors also digested news of inclusion of smart-phone maker Xiaomi to a blacklist of alleged..

We believe strong investments in digital technologies, cloud transformation , IoT, as-a Service, Machine learning etc. across verticals will help to generate higher revenue accelerations.These macro economic events will also help to have strong deals.

We recommend BUY and assign 19x P/E multiple to its FY23E earnings of Rs. 22.6 per share which gives a TP of Rs. 430 per share, an upside of 16%.