LTM sinks 8% on AI fears: Jefferies warns of 17% downside

The LTM, which was earlier known as LTIMindtree, shares dropped over 8% to the day’s low of Rs 3,993 on the NSE, a day after the company’s Investor Day presentation. The stock came under pressure after management indicated that Artificial Intelligence could potentially disrupt parts of its core revenue. Following the presentation, brokerages remained divided on the stock. While Jefferies retained its ‘Underperform’ rating, Motilal Oswal sees a 25% upside potential in the mid-tire IT service stock.