Birlasoft shares slide over 6% in 2 days post Q4 earnings miss; Nuvama slashes target price on bleak outlook
[hfe_template id='11223']
[ad_1]
Shares of Birlasoft Ltd have dropped 6.4% over two sessions since the company reported its fourth-quarter earnings, with the stock falling as much as 5.8% on Friday to Rs 396 on the BSE. The slide comes after the IT services firm posted a sequential decline in revenue and a tepid outlook, prompting Nuvama Institutional Equities to slash its target price and reiterate a negative stance. Nuvama lowered its 12-month target price on Birlasoft to Rs 350 from Rs 370, maintaining a ‘reduce’ rating. The revised target implies a potential downside of about 11.6% from Friday’s low. "Birlasoft reported weak Q4FY25 results," Nuvama said in a post-results note, adding that the company missed the brokerage's estimates. “Birlasoft continues to disappoint on revenue growth,” it added, citing the weakest annual growth across its coverage universe apart from Wipro. For the March quarter, Birlasoft’s consolidated revenue fell 3.36% QoQ to Rs 1...