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

L&T Technology Services

16/01/2025 04:24

** 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;))