L&T Technology Services LTTS

Recently, HCL Technologies said that its FY23 revenue could be at the lower end of the guidance; Credit Suisse warned valuation-led correction in these stocks amid US macro headwinds.

Engineering services company L&T Technology Services (LTTS) announced on Monday the opening of its new campus in Mysuru to cater to the design and development of embedded solutions, digital products and software engineering. The new 'Module X' campus houses eight floors with engineers in this centre working on a wide spectrum of services covering multiple industries, the company said in a statement. The campus has a capacity to seat over 1,300 engineers who will be working on high-end projects for LTTS' global clientele, it said. LTTS said it has laid out plans to hire over 1,000 engineers in Mysuru over the next two years as it rapidly expands its delivery and design centre in the city to cater to burgeoning demand for engineering services.

Cyient also disappointed on the revenue front, with 8 per cent year-on-year (YoY) organic growth

According to the technical analyst from Anand Rathi, TCS can target Rs 3,200 on the upside, while L&T Technology Services can rally to Rs 3,450.

Margins were better managed despite a higher attrition of 23.2% in Q1, up from 20.4% in Q4FY22

In the last few weeks alone, analysts at JP Morgan, Kotak Institutional Equities and Nomura had sounded caution on the IT sector, suggesting that the heydays may be over, at least for now

Shares of ONGC are likely to be in focus as the government will sell 1.5 per cent stake in the oil producer through an offer for sale (OFS) over the next two trading sessions at Rs 159 per share.

Stocks like TCS and LTTS may explore uncharted territories in current market volatility

According to the technical analyst from Anand Rathi, both the stocks are placed well on a risk-reward ratio from a short to medium-term perspective

Despite the current corrective phase in IT sector, the overall positive bias seems to be intact for these IT stocks as they hold crucial support levels

In a Q&A, the CEO and Managing Director of L&T Technology Services, Amit Chadham spoke about attrition, the way forward and the Covid impact on business

Larsen & Toubro Technology Services (LTTS) on Tuesday posted a 39.1 per cent rise in consolidated net profit to Rs 230 crore for the September 2021 quarter and has raised its dollar revenue growth guidance to 19-20 per cent. The company had registered a net profit of Rs 165.5 crore in the year-ago period, it said in a regulatory filing. Its revenue grew 22.4 per cent to Rs 1,607.7 crore in the quarter under review from Rs 1,313.8 crore a year ago, it added. The company has announced a special dividend of Rs 10 per share to mark the five-year anniversary of LTTS' IPO and the record date has been set as October 27, 2021. LTTS, which has seen attrition spike to 16.5 per cent in the second quarter of the financial year 2021-22, plan to hire 2,000 freshers in the next six months. On a sequential basis, the net profit was higher by 6.4 per cent from Rs 216.2 crore, while revenue increased 5.9 per cent from Rs 1,518.4 crore in the June 2021 quarter. During the quarter, LTTS won 5 deals

The management has guided for $1.5 billion revenue and 18 per cent earnings before interest tax (Ebit) margins by FY25

L&T is top pick in the wider Capital Goods sector as a proxy to play India's capex story, the brokerage firm said

Lower than expected Q4 show, premium valuations were other factors

Chadha's overall career spans over two decades in core engineering and information technology outsourcing

Engineering research and development outsourcing expected to grow faster than IT services, say analysts

Larsen & Toubro Technology Services (LTTS) on Wednesday posted an 8.8 per cent decline in consolidated net profit to Rs 186.1 crore for the December 2020 quarter. The company had registered a net profit of Rs 204.1 crore in the year-ago period, it said in a regulatory filing. Its revenue fell 1.6 per cent to Rs 1,400.7 crore in the quarter under review from Rs 1,422.9 crore a year ago, it added. On a sequential basis, the net profit was higher by 12.4 per cent from Rs 165.5 crore, while revenue increased 6.6 per cent from Rs 1,313.8 crore in the September 2020 quarter. "Our Q3 results marked another quarter of resilient performance with growth in revenue, deal wins, operating margin and free cash flow. All five of our industry segments grew sequentially, while three segments - Industrial Products, Plant Engineering and Telecom & Hitech grew over 5 per cent," LTTS CEO and Managing Director Keshab Panda said. Large deal bookings were the highest ever, helped by the marquee USD ..

Phillip Capital expects LTTS to post strong dollar revenue growth of 4.1 per cent QoQ

In the past month, the stock has outperformed the market by surging 17 per cent, as compared to 6.5 per cent rise in the S&P BSE Sensex