July 24, 2018 / 5:04 AM / 4 months ago

BUZZ-India's L&T Technology Services rises on strong June qtr

** Shares of engineering services firm L&T Technology Services Ltd climb as much as 13.8 pct to 1,488.05 rupees, their highest since Feb. 16

** Company’s June-qtr net profit rises to 1.98 bln rupees ($28.7 mln) from 982 mln rupees a year earlier

** Large deals won by LTEH over past year have started to ramp up and should boost growth in FY19; pipeline remains healthy across most verticals - CLSA Research

** CLSA Research maintains “buy” rating and price target of 1,750 rupees

** Of 13 brokerages covering stock, 8 rate it “buy” while 3 rate “hold” and 2 “sell”; median price target is 1,430 rupees - Thomson Reuters data

** Stock had gained 27.2 pct this year as of last close ($1 = 68.9250 Indian rupees)

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