L&T TECHNOLOGY SER (LTTS)
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LTTS Shares Surge 15% on 16.3% Q2 Margin, Lifting Nifty IT to 10-Month High
L&T Technology Services posted strong Q2 results with margins hitting 16.3%, sending shares up 15% in their biggest single-day gain in five years and pushing the stock past the Rs 4,000 level. The rally lifted the Nifty IT index to a 10-month high, with Jefferies flagging three IT ideas with up to 50% re-rating potential as investors reassess the sector's reversal.
LTTS Q2 net profit jumps 54% to ₹548 crore, beats estimates
LTTS reported Q2 net profit of ₹548 crore, up 54% year-on-year and beating analyst estimates. A later report put the rise at 66.78% to ₹548.2 crore, attributing the gain to a one-time item. The results mark a strong quarter for the engineering services firm.
LTTS shares surge on Q1 gains
After reporting strong Q1 performance, LTTS stock sees a 4% rise. However, Tata Group's share prices decline by 5%. Tech majors like TCS and LTIMindtree also show mixed trends.
Hindalco shares rise on Q1 performance
Hindalco's stock price has seen an upward trend following the release of its Q1 earnings, with gains driven by improved sales.
Tata Elxsi, Jindal Saw, LTTS Q1 earnings released
Tata Elxsi reported a 18% increase in profit, while Jindal Saw saw its PAT fall significantly. LTTS showed a 13% rise in profits for the first quarter.
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