LTTS shares rally 15%: Should you buy this IT stock after Q2 results?
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓L&T Technology Services shares rallied 15 per cent in Wednesday's trade after the company reported strong Q2 results.
- ✓Revenue grew 13.4 per cent year-on-year, led by the sustainability division.
- ✓While many brokerages have a buy rating, others suggest caution as wage hikes might weigh on profitability in the coming months.
Story at a Glance
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- MARKET
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- Business Today
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- 3 Minute(s)
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- India Economy
L&T Technology Services Ltd (LTTS) saw its shares rallying 15 per cent in Wednesday's trade after the IT major reported a strong performance in its 'Sustainability' division, with revenue growing 13.4 per cent year-on-year (YoY), supported by industrial products, energy transition, plant engineering and data centre infrastructure.
LTTS' mobility revenue increased 2.3 per cent quarter-on-quarter (QoQ), driven by North American automotive, trucks, aerospace and rail, while European automotive remained subdued due to OEM restructuring. While many brokerages have 'Buy' or'Add' rating on the LTTS stock, the 12-month Bloomberg consensus target at Rs 3,803 implied 4.5 per cent downside potential. Arihant Capital's target of Rs 4,415 on LTTS is the highest on the Street. Citi's Rs 3,115 is the lowest, data compiled by Business Today showed.
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