4349.2000 34.80 (0.81%)
NSE Jul 10, 2025 15:31 PM
Volume: 124.1K
 

4349.20
0.81%
HDFC Securities
LTTS continues to outperform ER&D peers, even as near term growth has slowed. We believe this has more to do with macros, and reckon that LTTS is reasonably resilient with its relatively stronger technical capabilities, diversified vertical mix and niche position in Process Industry and Industrial products. We build USD rev/EPS to post 11.5/14.5% CAGR over FY19-22E. That macros can play a bigger spoilsport than now is the only risk. We maintain BUY on LTTS despite the EPS downgrade (~5%) on weak near-term outlook (2Q nos were in-line). While relative outperformance continues, deceleration in growth trajectory limits our optimism. Our TP is Rs 1,705, based on 18x Sep-21E (20x earlier).
Number of FII/FPI investors increased from 174 to 228 in Mar 2025 qtr.
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