LTIMindtree and L&T Technology Services plug into high-growth nodes

Strategic reboots and fresh opportunities drive broker upgrades for the two L&T subsidiaries

The listed information technology (IT) subsidiaries of engineering giant Larsen & Toubro (L&T), LTIMindtree (LTIM) and L&T Technology Services, have seen sharp upmoves over the past fortnight, with returns ranging from 14 to 18 per cent. Both have outperformed the peer index, the National Stock Exchange Nifty IT, which has gained about 8 per cent, while the benchmark Nifty 50 is up 4 per cent during this period.

These gains are due to a recovery in key verticals, new growth avenues, and a positive medium-term outlook, prompting some brokerages to upgrade the two stocks.

Upgrades for LTIM,