L&T Technology may trail peers in near term despite improved FY21 guidance

The L&T Technology Services stock has been trading flat since its results announcement last week. This is despite the improved guidance for the financial year, and sequential improvement in the September quarter. The company has guided for a revenue decline of 7-8 per cent for FY21, which is a 200-basis-point (bps) improvement compared to the earlier guidance of a 9-10 per cent decline.  The management commentary suggests that the worst is over for the company, and growth should improve hereon. Following a 12.7 per cent revenue contraction in the June quarter led by a decline .....

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