L&T Technology surges 9%, hits new high on strong earnings projections

The management has guided for $1.5 billion revenue and 18 per cent earnings before interest tax (Ebit) margins by FY25

Shares of L&T Technology Services (LTTS) hit a new high of Rs 4,412.80, surging 9 per cent on the BSE in the intra-day trade on Friday, after the management guided for $1.5 billion revenue and 18 per cent earnings before interest tax (Ebit) margins by FY25 on strong demand outlook. In the past three months, the stock has rallied 62 per cent, as compared to a 11 per cent rise in the S&P BSE Sensex.

The revenue guidance includes acquisitions while Ebit margin guidance takes into consideration elevated travel costs, continued investment in tech and manpower and acquisitions.