L&T Technology Services540115IT services, engineering
L&T Technology Services stock surged over 9.5% on strong Q2 earnings driven by AI-led (engineering intelligence) revenue growth, with multiple brokerages raising target prices
By ScoutQuest · · 1 min read
- Stock move today
- 9.5 percent
- Stock rally today
- 10 percent
- JP Morgan target price
- 3,700 rupees
- Previous JP Morgan target
- 3,300 rupees
- Nomura target price
- 3,500 rupees
Heard on business television between 14:34:46 - 14:37:46 IST.
- Stock rallied about 10% intraday on the back of a Q2 beat in revenue, margins and constant currency growth of 2.7% versus 1.5% in the previous quarter.
- AI-led (termed Engineering Intelligence) revenue came in at $120 million, about 9.76% of revenue, in line with peers; large deal TCV reported at $200 million with 50% AI-led.
- Company guided H2 to be stronger than H1; EBIT grew 7.6% and margins expanded 64 basis points from 15.68% to 16.33%.
- JP Morgan maintained neutral and hiked target to Rs 3,700 from Rs 3,300; Nomura maintained neutral and raised target to Rs 3,500 from Rs 3,290 citing data center, energy transition and plant engineering strength; Citi maintained sell with target around Rs 3,150, citing Q3 seasonal weakness from furloughs and wage hikes.
- Analyst Dharmesh called the AI trade a tactical/punt play, expecting profit booking after a 5-7% rally, flagging eventual normalization and questioning sustainability of growth given high valuations versus 5% US 10-year bond yield.
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Source: Live TV News Channel · 21 Oct 2026
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