L&T Technology Services Ltd News

Nifty IT index slips over 2%; Infosys, LTIMindtree, LTTS down up to 5%

For the Indian IT services sector, which derives over 60 per cent of its revenues from the US, the Fed's cautious stance has mixed implications

Nifty IT index hits record high on December 10: Here's what drove the rally

By 11:11 AM, the Nifty IT index had come off its peak but was still trading 0.82 per cent higher at 45,199.40. In comparison, the broader Nifty50 index was up a modest 0.11 per cent at 24,646.30

L&T Tech shares gain over 4% after acquiring Silicon Valley's Intelliswift

Shares of L&T Technology Services surged up to 4.25 per cent to hit an intraday high of Rs 5,324.65 per share on the BSE

L&T Technology Services acquires US-based Intelliswift for $110 million

The acquisition, according to the firm, will deepen its offerings across software product development, platform engineering, digital integration, data, and artificial intelligence (AI)

Nifty IT index surges nearly 3%; Coforge, Persistent zoom 12% on strong Q2

Analysts anticipate growth momentum to return in FY25 for IT sector, aided by a lower base coupled with easing sectoral headwinds.

Nifty resistance stands at 25,000-mark; Bias for Bank Nifty turns positive

F&O cues for Oct 21: Despite Friday's recovery, Nifty options continues to reflect cautious sentiment, with call writing outweighing put writing on Friday, said Dhupesh Dhameja of SAMCO Securities.

Margin pressure clouds near-term outlook for L&T Technology's stock

Management maintains FY25 guidance of 8-10 per cent revenue growth in CC, which implies a steep growth rate of 4.5-7 per cent growth per quarter in H2FY25

LTTS Q2 results: Net profit up 1.3% at Rs 319.6 cr as margins narrow

Engineering services player L&T Technology Services (LTTS) on Wednesday reported a 1.3 per cent rise in the September quarter net profit at Rs 319.6 crore, as profit margins narrowed. The company, an arm of engineering, procurement and construction major Larsen & Toubro, had reported a net profit of Rs 315.4 crore in the year-ago period while the was Rs 313.6 crore in the preceding June quarter. Its revenues grew 7.8 per cent to Rs 2,572.9 crore in the reporting quarter, helped by an over 24 per cent growth in the European market on demand from the automobile sector and sustainability-focused solutions. LTTS Managing Director and Chief Executive Amit Chadha said it is aiming for revenues to grow between 8-10 per cent in FY25, and maintaining its guidance on hitting the USD 2 billion yearly revenue in medium-term mark. Higher spends on sales and technology led to a narrowing of the operating profit margin to 15.1 per cent during the reporting quarter, as against 17.1 per cent ..

Why did Mphasis, Nifty IT gain up to 4% after US Fed cut rates by 50 bps?

The surge in IT stocks was fuelled by the US Federal Reserve's decision to cut interest rates by 50 basis points, lowering the target range to 4.75 per cent to 5 per cent.

Mphasis, Infosys fall up to 6%, Nifty IT 3% ahead of Fed rate cut decision

The fall in IT stocks may also be attributed to a report which says Accenture Plc is planning to push back the bulk of its staff promotions by six months

L&T Semiconductor Technologies, IBM ink pact to develop advanced processors

Under the collab, both IBM and L&T Semiconductor Technologies anticipate focusing on innovation, functionality, and performance to enable reliable, secure, and scalable computing for range of apps

IT shares in demand; Coforge up 6% as Motilal Oswal upgrades stock to 'Buy'

The IT sector is on the cusp of a mild but possibly sustained recovery in client spending, and the impending rate cut cycle should add to the sector tailwinds, according to MOFSL.

Technology shares in demand; Nifty IT index rises 2%, TCS nears record high

The Nasdaq rose more than 2% on Thursday after July the US retail sales data signalled resilient consumer spending, allaying fears of an imminent recession in the world's largest economy.

Nifty IT soars 2% amid positive US job data, rebound in global markets

The rally in IT stocks came on the heels of a major drop in US jobless claims, which fell to 233,000 for the week ending August 3-the largest decline in nearly a year.

L&T Technology Q1FY25 results: Net profit up marginally at Rs 313.6 crore

The EBIT margin of the company stood at 15.6 per cent, falling 130 basis points (bps) sequentially and 1.6 per cent YoY

L&T Technology Q1 result: Revenue up 7% at Rs 2,462 cr, misses expectations

Revenue in its Indian and European segments rose 12.2 per cent and 23.7 per cent, respectively

IT stocks gain post TCS decent Q1 results; Mphasis, Sonata rally up to 6%

IT stocks today: TCS, Mphasis, Accelya Solutions India, Sonata Software, and Kellton Tech Solutions rose in the range of 3 per cent to 6 per cent