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.
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