Q3FY26 Results: Mixed Earnings and Ratings for Indian Engineering and Manufacturing Firms

Several Indian companies reported their Q3FY26 financial results with mixed outcomes. Tata Technologies saw revenue growth but a profit decline, leading to a Sell rating and a target price of INR 550. LT Technology Services lowered revenue guidance amid portfolio changes, maintaining a Hold rating with a TP of INR 4,040. Tata Motors launched new trucks focusing on profit, safety, and sustainability, receiving a Neutral rating with a TP of INR 417. Tech Mahindra posted revenue and margin beats, earning a Buy rating and TP of INR 2,350. CEAT showed volume growth and margin improvement, with a Buy rating and TP of INR 4,579. Havells India reported below-estimate earnings and maintained a Neutral rating with a TP of INR 1,590.