Shares of L&T Technology Services (LTTS) surged by as much as 10% hitting the upper circuit today, January 16, after the company reported a strong operational performance in the December quarter. The stock hit an intraday high of Rs 5,336.90, before trading at Rs 5,243.45 as of 1:08 PM IST, a gain of 8.07% or 391.70 points.
L&T Technology Services – Stock performance overview
L&T Technology Services stock has been on a bullish trend in recent sessions. Over the past five days, the stock has increased 6.65%, while it has surged 7.41% in the last six months. However, despite the recent surge, the stock remains below its 52-week high of Rs 6,000. Its 52-week low stands at Rs 4,200.
At its current market price, the company’s market capitalisation stands at Rs 55,480 crore, with a P/E ratio of 42.41 and a dividend yield of 0.95%.
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L&T Technology Services – Q3 earnings snapshot
The jump in LTTS shares comes despite a marginal drop in profit for Q3FY25. The company reported a consolidated net profit of Rs 322.40 crore, down 4.10% compared to Rs 336.20 crore in the same period last year. Revenue from operations rose 9.55% to Rs 2,653 crore, compared to Rs 2,421.80 crore in Q3FY24. EBITDA for the quarter stood at Rs 422 crore.
L&T Technology Services – Brokerage views
Analysts remain divided on L&T Technology, pointing out a cautious outlook.
Nuvama Wealth Management maintained a “Hold” rating with a target price of Rs 4,852 per share, high a neutral stance.
Nomura also held a “Neutral” rating, setting a slightly higher target price at Rs 4,900 per share.
Macquarie adopted a bearish tone, assigning an “Underperform” rating with a target price of Rs 4,310 per share.
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About the company
L&T Technology Services (LTTS) started its journey in 2006 as L&T Integrated Engineering Services. In 2013, after a restructuring by its parent company, Larsen & Toubro, led to the formation of LTTS as it is known today. The company specialises in cutting-edge technology solutions across various domains, including automotive engineering,
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