Subscribe To Our Free Newsletter |
LTIMindtree shares tumble 10% on weak Q3 earnings, ratings downgrades. How to trade now?
IT services company LTIMindtree's stock tanked 10% following lower-than-expected Q3 earnings. CLSA downgraded the stock to Sell, while Kotak Institutional Equities recommended a Reduce rating due to weak quarter-on-quarter growth. Motilal Oswal maintained a Neutral rating, while Nuvama retained a Buy stance but cut the price target. InCred downgraded the stock to Reduce. LTIMindtree reported a 17% YoY rise in net profit to Rs 1,169 crore and a 5% increase in revenue to Rs 9,017 crore for the quarter.