ICICI Direct has given Buy recommendation for TeamLease with a target price of Rs. 4025 in its research report issued on May 19, 2022

ICICI Direct’s research report on TeamLease

TeamLease Ltd (TLL) is one of the leading providers of human resource services in the organised segment with ~6% share in flexi staffing. Employment services include temporary staffing solutions, IT staffing, regulatory consultancy for labour law compliance and training & skills • Net debt free and healthy double digit RoCE (>14%) key positives.

Outlook

We maintain BUY rating on the stock. We value Teamlease at Rs 4025 i.e. 32x P/E on FY24E.

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