The listed information technology (IT) subsidiaries of engineering giant Larsen & Toubro (L&T), LTIMindtree (LTIM) and L&T Technology Services, have seen sharp upmoves over the past fortnight, with returns ranging from 14 to 18 per cent. Both have outperformed the peer index, the National Stock Exchange Nifty IT, which has gained about 8 per cent, while the benchmark Nifty 50 is up 4 per cent during this period.
These gains are due to a recovery in key verticals, new growth avenues, and a positive medium-term outlook, prompting some brokerages to upgrade the two stocks.
Upgrades for LTIM, the larger of the two IT firms, began after the April-June 2024-25 (FY25) quarter (Q1) results, which exceeded expectations. With a 2.6 per cent sequential growth and a 3.7 per cent rise compared to the year-ago quarter in constant currency terms, the company comfortably surpassed the growth expectations of 1 per cent.
The quarter's growth was driven by high technology, which increased 7.9 per cent sequentially, led by momentum in key accounts, while banking, financial services and insurance (BFSI) saw a 2.9 per cent growth after four consecutive quarters of decline.
The recovery in key verticals and positive management commentary have led to these upgrades.
هذه القصة مأخوذة من طبعة September 02, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة September 02, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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