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BUZZ-India's L&T Technology jumps after raising revenue growth outlook

ReutersJan 16, 2025 4:24 AM

L&T Technology Services LTEH.NS shares rise as much as 10% to 5,336.9 rupees

Co raises FY25 revenue growth outlook to near 10% from 8%-10% earlier on the back of acquiring software firm Intelliswift

Co's Q3 revenue rose 9.6% to 26.53 billion rupees ($307 billion)

LTEH set for best day since Dec. 1, 2022

About 720,000 shares traded, 6.3x its 30-day moving avg

Emkay Global upgrades to "add", equivalent to "buy", from "reduce", equivalent to "sell", due to price correction and improving momentum across most verticals

3Q better than expected with improving deal wins - Nomura

Analysts' avg rating on stock is "sell"; median PT is 4,825 rupees, ~8.5% lower than current price - data compiled by LSEG

($1 = 86.4140 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))

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