nvestec has maintained its sell rating on L&T Technology Services (L&T Tech), raising its target price to Rs 4,980 from the previous Rs 3,960, implying a 6.47% downside from the current market price of Rs 5,325.00. The brokerage highlighted weaker-than-anticipated revenue and margin performance but noted that L&T Tech appears to be making progress in its SWC integration, which was a previous concern.
Investec believes that while estimates remain stable, the stock represents a high-risk and low-reward scenario given the challenges ahead.
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