Guidance revision, margin show help L&T Tech outperform peers in Q1

Investors advised to await a correction and hold the stock for long term to benefit from the demand uptick in the niche engineering, research and development space

The L&T Technology Services (LTTS) stock has hit the upper circuit (20 per cent gain) on Thursday before retreating and closing with an uptick of over 18 per cent. The all-time high levels for the stock came after the company reported a strong June quarter performance and hiked its revenue growth guidance for FY22. Today’s rally extends the stock’s gain over the last year to over 130 per cent. 

Other companies in the parent Larsen and Toubro’s (L&T) software portfolio Mindtree and L&T Infotech (LTI) too have seen strong gains rising between 9-12 per cent over the last couple of