CITI retains a Sell call on LTIMindtree with a target price of ₹5,710, highlighting subdued margin prospects. Management expects:
- A demand uptick in BFSI, Retail, Healthcare, and Manufacturing.
- Tech vertical performance remains mixed, with some accounts facing budget constraints.
While LTIM’s JV with Aramco in Saudi Arabia is showing strong potential, margin improvement targets have been deferred to prioritize strategic initiatives. The brokerage raises concerns over productivity risks, noting that LTIM’s operational levers like SGA optimization and cost control remain uncertain.
