India's engineering research firms gain after J.P. Morgan sees growth recovery

L&T Technology Services

26/11/2024 07:15

** Shares of several of India's engineering, research and
development (ER&D) companies gain
    ** KPIT Technologies  KPIE.NS  rises 3.3%, Persistent
Systems inches up 0.7%  PERS.NS , L&T Technology  LTEH.NS  up
0.5%, Cyient  CYIE.NS  increases 1.7%, and Tata Technologies
 TATE.NS  up 0.1% 
    ** KPIT Technologies rises after J.P. Morgan sees growth
picking up in the sector and calls it the top pick 
    ** Lists PERS, LTEH, CYIE, Tata Elsxi  TTEX.NS , and TATE as
its favourite picks in ER&D space after KPIE
    ** Brokerage says weakness in auto segment for ER&D is
cyclical and should see a bounce back in 2025
    ** Adds, acceleration in auto segment should drive expansion
in growth premium for ER&D over IT
    ** Barring PERS and LTEH, which have risen 61% and 4% in
2024 so far, the other four companies are in the red for the
year, shedding between 6.8% and 23% - LSEG data

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
J.P. Morgan's view on India's engineering research companies   
https://reut.rs/3Zpy2T6
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 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))