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Brokerage firm Morgan Stanley maintained an underweight rating on L&T Technologies, Nuvama downgraded HDFC Bank post Q3 results, and an overweight rating on ICICI Lombard. UBS maintained a buy rating on GAIL India.
Sensex tanks 1000 points to 72,163; Nifty drops below 22,000 mark
Stocks to watch: Shares of firms like HDFC Bank, Adani Energy, G R Infra, Asian Paints, LTIMindtree, and others will be in focus on Wednesday's trade.
Amit Chadha, MD & CEO of L&T Technology Services, confirms that the highest growth in the last two quarters has been from Europe, followed by North America and the rest of the world. He expresses confidence in a good Q4 and reaffirms the company's guidance. The contribution from the BP deal has started, and the team is expected to scale up over time. Margins have improved, but the company continues to balance operating expenses and investments.
YES Securities recommended Neutral rating on Larsen and Toubro Technology Services with a target price of Rs 5447 in its research report dated January 16, 2024.