L&T Technology Services Ltd., incorporated in the year 2012, is a Mid Cap company (having a market cap of Rs 18561.69 Crore) operating in IT Software sector.
By ETMarkets.com | Updated:
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Promoters held 74.4 per cent stake in the company as of Sept 30, 2020, while FIIs held 8.5 per cent, DIIs 5.3 per cent and public and others 11.8 per cent.
ICICI Securities has given reduce rating to L&T Technology Services with a target price of Rs 1550. The share price moved up by 1.15 per cent from its previous close of Rs 1750.55. The stock’s last traded price is Rs 1770.60.
L&T Technology Services Ltd., incorporated in the year 2012, is a Mid Cap company (having a market cap of Rs 18561.69 Crore) operating in IT Software sector.
Financials For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 1294.70 Crore, down 10.50 % from last quarter Sales of Rs 1446.60 Crore and down 3.92 % from last year same quarter Sales of Rs 1347.50 Crore Company reported net profit after tax of Rs 118.00 Crore in latest quarter.
Investment Rationale LTTS’ multiples should not change much as the benefit of fall in COE (+20%) should be offset by the reversal of the growth premium (-20%). The brokerage downgrades rating to REDUCE with a target price of Rs 1,550. Promoter/FII Holdings Promoters held 74.4 per cent stake in the company as of Sept 30, 2020, while FIIs held 8.5 per cent, DIIs 5.3 per cent and public and others 11.8 per cent.
