LTTS earnings spark 15% jump and Jefferies lifts target prices for Infosys and TCS
L&T Technology Services reported Q2 FY27 revenue of Rs 3,040.4 crore, posting sequential growth of 3.4% and year‑on‑year growth of 12.1% (reported). Net income rose 53.7% QoQ and 66.8% YoY to Rs 548.2 crore. The results drove the Nifty IT index up 2.6% to 32,348.25 and sent LTTS shares soaring about 15% on Oct 21. Global broker Jefferies responded by raising its target price for Infosys to Rs 1,160 (from Rs 1,020) and for TCS to Rs 2,125 (from Rs 1,800) while keeping its existing ratings.
Why it matters
The higher target prices suggest Jefferies sees re‑rating potential for the two large‑cap IT firms, which could lift their valuations if earnings growth continues. Investors in Infosys (INFY) and TCS may see upside from the revised price targets, while the broader IT sector benefits from the rally sparked by LTTS’s strong results.
Key facts
- 1LTTS shares rose up to 15% on Oct 21 after reporting Q2 FY27 revenue of Rs 3,040.4 crore. timesnownews.com
- 2LTTS revenue grew 3.4% quarter‑on‑quarter and 12.1% year‑on‑year on a reported basis. timesnownews.com
- 3In constant‑currency terms, LTTS dollar revenue increased 2.7% QoQ and 4.8% YoY to $317 million. timesnownews.com
- 4LTTS net income climbed 53.7% QoQ and 66.8% YoY to Rs 548.2 crore. timesnownews.com
- 5The Nifty IT index gained 2.6% to an intraday high of 32,348.25. timesnownews.com
- 6Jefferies raised its target price for Infosys to Rs 1,160 from Rs 1,020, maintaining a Hold rating. timesnownews.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.