 "Larsen and Toubro")
After underperforming during the earlier part of the financial year (FY21), L&T Technology Services has trended up and hit fresh highs. The stock has risen close to 71.6 per cent since the start of July, and 20 per cent of the gains have come in the last two sessions.
The trigger for the recent rally has been the multiple deals that the company has won in the ongoing December quarter, and expectations of a recovery in the engineering, research and development (ER&D) segment.
Its client mix — which is tilted towards discretionary sectors — and spends were key reasons for the earlier
