L&T Technology services share price rises over 3% despite soft Q3 results; should you buy, sell or hold?
Nuvama Institutional Equities report. L&T Technology Services share price today opened at ₹5,325.05 and touched an intraday high of ₹5,535.60 and an intraday low of ₹5,325.05 apiece on BSE.
In response to enhanced revenue visibility, brokerage Nuvama increased FY24E/25E/26E by 0.2%/1.5%/3.1% and upped its target multiple to 35x FY26E PE (from 30x). The company also upgraded the stock to 'BUY' with a target price of ₹6,260 (previously ₹5,200).
Also Read: Nifty 50 drops nearly 1.5%, Sensex tumbles 1,000 pts at open: 5 key reasons why Indian stock market is falling According to Rajesh Bhosale, Equity Technical and Derivative Analyst, Angel One, after two days of profit booking, L&T Tech stock prices have started on a positive note. This upmove in today's session is supported by a good, above-average volume of the first hour.
Expect the positive momentum to resume, with prices likely to head towards ₹5,650 and ₹5,300 to act as support. "Exciting news! Mint is now on WhatsApp Channels
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