Macquarie reiterated its ‘Outperform’ rating on LTI-Mindtree, setting a target price of ₹7,100, which implies an 18.6% upside from the current market price of ₹5,987.60. The brokerage noted strong performance in record deal wins and broad-based client growth.
However, it highlighted a decline in EBIT margins by 170 basis points QoQ due to wage hikes. Management expects CY25E to outperform CY24 as improving demand drives growth. Additionally, productivity benefits impacted the company’s top high-tech customer.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors are advised to consult financial advisors or perform their own research before making investment decisions.
