IT stock to buy: Brokerage suggests buying this stock for up to 16% returns, check target and stop loss

Last week was one of consolidation for the stock market. There was a slight increase of about 0.2 per cent in both Sensex and Nifty. This was the third consecutive week when the weekly returns in the market have been positive. The results of the general elections were a surprise in a way, but the market is celebrating the formation of a stable government. Investors' sentiment has also been strengthened by the expectation of a budget that will support growth.

Meanwhile, brokerage Prabhudas Lilladher has recommended buying shares of digital solutions providing company Latent View Analytics (LatentView). The brokerage has suggested buying this stock for 60 days.

LatentView share price target

Brokerage Prabhudas Lilladher has made Latent View Analytics a technical pick for 60 days. The target for this has been kept at Rs 600 and the stop loss at Rs 490. The share price on June 21, 2024 (Friday) was Rs 516.60. In this way, the stock can rise by more than 16 per cent from the current price.

LatentView Q4 earnings

The data analytics and digital solutions provider witnessed an increase in consolidated net profit, which rose by 32.2 per cent to reach Rs 45.2 crore in Q4FY24 compared to Rs 34.2 crore in the same period last year.

The company's consolidated revenue saw a rise of 21.7 per cent, totalling Rs 171.6 crore from Rs 141 crore in the corresponding quarter of the previous year.

LatentView share price history

The stock has given decent returns in the last one year. The stock has risen by about 43 per cent during this period. The return of the stock in 6 months has been 13 per cent. The return of the stock in 3 months has been 11 per cent. At the same time, the stock has risen 2 per cent in the last 5 trading sessions. The 52-week high of the stock on BSE is 566.95 and the low is 566.95.  The market cap of the company is Rs 10,641.85 crore.

The views/suggestions/advice expressed here in this article are solely by the brokerage firm. Zee Business suggests its readers consult their investment advisers before making any financial decision.