L&T Infotech shares jump almost 7%, hit 52-week high ahead of Q3 results

L&T Infotech

Shares of Larsen & Toubro Infotech surged 6.63 percent on BSE to hit their fresh 52-week high of Rs 2,002.80 in the morning trade of January 15 ahead of its December quarter results scheduled for later today.

The company is expected to report a healthy set of numbers, brokerages said.

“We expect revenue growth to come back strong; a 3.2 percent quarter-on-quarter (QoQ) in constant currency as growth returns in the top client,” said Edelweiss Securities in a report.

The absence of wage hikes and weak Indian rupee will help margin expansion of 130bps, which may be partially offset by the impact of furloughs, Edelweiss Securities added.

The management commentary on demand momentum in BFSI, commentary on utilisation, and demand in digital are the key

monitorable, said the brokerage.

Edelweiss Securities sees a 7.9 percent year-on-year (YoY) jump in Larsen & Toubro Infotech’s Q3 revenue, while EBITDA and core PAT are expected to grow 1.6 percent and 6.5 percent YoY, respectively.

Brokerage firm Motilal Oswal expects a 9.5 percent YoY jump in the company’s revenue and an 18.5 percent EBITDA margin for the third quarter of FY20.
Shares of Larsen & Toubro Infotech traded 4.20 percent up at Rs 1,957 on BSE around 11:25 hours IST.

News Source:- Moneycontrol

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