Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  

| More

Teamlease Services - Gladiator Stocks - ICICI Direct

Posted On: 2020-12-04 04:02:00 (Time Zone: Arizona, USA)


Buy Teamlease Services in the range of Rs. 2600.00-2680.00 for target price of Rs. 3148.00 with a stop loss of Rs. 2388.00. Time Frame: Six months

Technical View

IT sector is on the cusp of breaking out of past two month's consolidation that has been seen after March-October's sharp up move. Within midcap IT space Teamlease stays our top pick

The share price underwent healthy consolidation (Rs. 2588-2072) after seeing a sharp up move (82%) in May-August 2020. Currently, the stock has resolved out of ongoing consolidation, indicating resumption of primary up trend. This augurs well for acceleration of upward momentum. Hence, it offers a fresh entry opportunity

Key observation to highlight during up move since June 2020 is that the stock has been finding elevated buying demand at its 10 weeks EMA, indicating inherent strength

Structurally, it formed a higher base after resolving out of downward sloping trend line (drawn adjoining October 2019-February 2020 highs of Rs. 3200-2880). In this phase weekly volume was subdued as it was below its 50 weeks average volume. This has now started picking up, indicating revived buying demand

We expect the stock to maintain its upward momentum and head towards Rs. 3148 in coming months as it is price parity of July-September rally (Rs. 1630-2588) projected from November low of 2176, at Rs. 3134

Fundamental View

TeamLease Services (TLS), established in 2002, is one of India's leading providers of human resource services in the organised segment with ~6% share in the flexi staffing industry. TLS' services span the entire human resources supply chain covering employment, employability and education. Employment services include temporary staffing solutions, IT staffing and regulatory consultancy for labour law compliance while employability offerings include learning and training solutions

TeamLease Services (TLS) with its core expertise in general staffing and focus on India, the company is ready to grab the opportunity in the least penetrated temporary staffing market in India (0.5% in 2015 vs. global average of 1.7%). We believe penetration in the temporary staffing market should rise through favourable industry dynamics like formalisation of economy and GST. Further, considering reopening of the economy, push for local manufacturing, the aim of India to be a global supply chain along with labour reforms will give a huge fillip to TeamLease's business in the long run. We believe that with scalability and expertise in staffing, the company is set to reap the benefits of an under-penetrated flexi staffing industry in India

For details, click on the link below:

Shares of TeamLease Services Ltd was last trading in BSE at Rs.2769 as compared to the previous close of Rs. 2806.9. The total number of shares traded during the day was 1882 in over 614 trades.

The stock hit an intraday high of Rs. 2896.2 and intraday low of 2714.25. The net turnover during the day was Rs. 5265904.

Source: Equity Bulls

Click here to send ur comments or to

Disclaimer:The article above is a gist / extract of the original report prepared by the research firm / brokerage firm. This article is not to be considered as an offer to sell or a solicitation to buy any securities. This article is meant for general information only., its employees or owners or the research firms, its employees or owners won't be responsible for any liability that may arise from information, errors or omissions in these articles. or its employees or owners / the research firms or its employees or clients or owners may from time to time hold positions in securities referred in this article. For detailed research reports, please contact the concerned research firm directly.

Other Headlines:

Easy Trip Planners Ltd. - IPO - Strong Financials - Reliance Securities

Bharat Forge - Initiating Coverage - Constant evolution - HDFC Securities

Mahindra Logistics - Large-ticket deal win - ICICI Securities

Company Update - Huhtamaki India - ICICI Direct

Gladiator Stocks: IndusInd Bank, VIP Industries - ICICI Direct

Warehousing demand expected to grow around 160% to reach 35 million sq. ft in 2021: JLL

Telecom - Spectrum auction: Prudent investment by Bharti Airtel - ICICI Securities

JB Chemicals & Pharmaceuticals - Analyst meet takeaways - ICICI Securities

IPO Review - MTAR Technologies Ltd - ICICI Direct

Auto Sector - Monthly Volume Round-up - Feb 21 - Decent YoY Growth Continues

Aditya Birla Fashion and Retail - Focus on scaling up new businesses - ICICI Securities

Automobiles (wholesale) - Wholesales push continues despite modest retail trends - ICICI Securities

Aditya Birla Capital - Thoughtful (inclusive) conglomerate business evolution commands premium - ICICI Securities

Jubilant Foodworks - Buying in-the-money options - ICICI Securities

Multi Commodity Exchange of India - Play on rising commodity prices? - ICICI Securities

Gladiator Stocks - Sudarshan Chemical - ICICI Direct

Monthly Commodities Outlook - March 2021 - ICICI Direct

ICICI Direct - Monthly Currency Outlook: Rupee to depreciate further towards 75.00 level...

ICICI Direct - Covid Recovery Pulse - E-way bill generation in February 2021 starts on strong note...

Company Update - Virtual JLR Investor Event - Tata Motors - ICICI Direct

Analyst Meet Update - Aditya Birla Fashion and Retail - ICICI Direct

MTAR Technologies Ltd. - IPO - Huge Opportunities from Clean Energy Bodes Well - Reliance Research

ICICI Direct Derivatives Weekly View (February 26): Failure to move above 14700 may extend declines towards 14300...

Bank: Sector Credit Trends - Slows, Yet again - HDFC Securities

Piramal Enterprises - Pharma day highlights - ICICI Securities

Polymer price tracker - PVC prices rise sharply again! - ICICI Securities

Greenply Industries - Growth returns, at an inflection point - ICICI Securities

Tata Motors - JLR future proofing itself with rapid electric transition - ICICI Securities

Dairy - Higher freight cost and increase in Global SMP prices - ICICI Securities

Analyst Meet Update - Nestlé India (Hold): Focus on product innovation, expanding rural reach - ICICI Direct

MTAR Technologies Ltd - A strong player in booming high precision engineering... - Geojit

Rollover Report for February - March 2021 : Angel Broking

Reaction from industry experts on Q3FY21 GDP numbers

M. Govinda Rao, Chief Economic Adviser, Brickwork ratings on Q3FY21 GDP numbers

Mr. Dhiraj Relli, MD & CEO, HDFC securities views on Q3FY21 GDP Growth Number

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research on Q3FY21 GDP

Rollover Analysis - Feb 21, 2021 - YES Securities

Consumer Durables - Demand-driven recovery continues - HDFC Securities

Cement - Demand surprises; earnings upgrade to continue - ICICI Securities

Gladiator Stocks - TeamLease Services - ICICI Direct

Gladiator Stocks - Metals to outshine post multi-year breakout... - ICICI Direct

Company Update - Sundaram Finance - ICICI Direct

Indian pharmaceutical industry to meet an ambition of US$130 billion by 2030 through innovation-led growth: EY-FICCI report

4th Industrial Conclave - Bullish undertone, favourable valuation - HDFC Securities

Sanofi India - Weak quarter; sequential improvement - ICICI Securities

Sunteck Realty - All eyes on upcoming launches - ICICI Securities

Company Update - Tata Motors - ICICI Direct

Q4CY20 Company Update - Mahindra CIE Automotive - ICICI Direct

Event Update - Hindalco - ICICI Direct

EY report launch at BioAsia 2021 - Moving the needle: Healthcare industry in a post-COVID world

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020