Key Points
IT services firm LTIM faced a challenging day on Dalal Street as its shares tumbled over 13 per cent, prompting investors to ponder their next move..
The steep fall comes after the IT company released its Q3FY24 results, where it fell short of profit estimates, contrary to the performance of its industry peers in the ongoing Q3 earnings season...
Brokerage firm Kotak Institutional Equities recommended a 'Reduce' stance on LTIM, lowering the target price to Rs 5,500 from Rs 5,910..
It said LTIM reported a weak quarter, with a modest 0.7 per cent quarter-on-quarter growth and a 60 bps EBIT margin decline, both falling short of estimates...
On the other hand, Nuvama Institutional Equities retained a 'Buy' stance on LTIM, albeit with a reduced target price of Rs 7,000 from Rs 7,350...
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