Is L&T Tech ‘Buy’ or ‘Sell’ now? Brokerages warn of 8% downside after Q3 pivot
L&T Tech Services' Q3 net profit declined due to restructuring for profitability over growth. Brokerage houses have cut ratings and target prices, predicting an 8% downside. Nomura cut the target price by 8.1% and lowered revenue growth assumptions. The company is exiting low-margin businesses and focusing on higher-margin areas.