Buy LTIMindtree Ltd For Target Rs. 6,250 by Motilal Oswal Financial Services Ltd
* LTIM is expected to report flat CC growth in 4Q, impacted by slower discretionary spending and deal ramp-down. Further, Hi-tech is expected to decline, impacted by a productivity pass-back in a key account spilling into 4Q.
* Margins are expected to remain flat at 13.8%, supported by gradual improvement in utilization.
* BFSI is holding up well with some softness in insurance; manufacturing is stable; CPG and retail remain steady, while travel is seeing some pressure.
* We expect the initial commentary on FY26 growth to remain muted, though margin guidance should be maintained or even increased, as most major margin headwinds appear to be behind.
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