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"While LTTS' deal wins have improved, complemented by better margin defence, risks of business cyclicality and weaker working capital cycle (post-SWC) persist," HDFC Securities said in a note.
Motilal Oswal is bullish on Larsen and Toubro Technology Services recommended buy rating on the stock with a target price of Rs 5210 in its research report dated October 17, 2023.
Indian engineering research and development services provider L&T Technology Services cut its revenue growth forecast for the current financial year on Tuesday, citing longer deal decision cycles...
“If you look at the 20-day moving average, it has been a great card for that accelerated trend in the midcap index. By mid September, we started to test that 20-day moving average again. Two weeks ago, we broke below it and now we are seeing some choppy volatility around it.”
Going ahead, the market may remain broadly rangebound with a positive bias amid healthy corporate earnings expectations and economic data, while keeping a focus on Israel-Hamas conflict, Chinese GDP numbers and oil prices, experts said.