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    Vikshita Vitthal Gujaran in News

    13-Jan-2023 11:47 AM


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    L&T Technology Services declines 5% on Morgan Stanley's 'underweight' stance

    Global research firm Morgan Stanley has maintained ist 'underweight' stance on the stock with target at Rs 3,300 per share.
    The pure-play engineering services company, a listed subsidiary of Larsen & Toubro Limited (L&T), announced on January 12 an agreement to acquire the parent company's Smart World & Communication (SWC) business, which was founded in 2016 to cater to the demands in smart cities, smart utilities, and digital infrastructure.
    The acquisition will be completed in three months, subject to satisfaction of conditions precedent identified under the agreement.
    According to LTTS, SWC business generated Rs 1,098 crore in annual revenue for FY 2021-22.
    Catch all the market action on our live blog Global research firm Morgan Stanley has maintained its 'underweight' stance on the stock with target at Rs 3,300 per share.
    Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management.

    Source -https://www.moneycontrol.com/news/business/stocks/lt-technology-services-declines-5-on-morgan-stanleys-underweight-stance-9858391.html