Mumbai, Oct. 21 -- After disappointing investors with lower-than-anticipated earnings growth in the last few quarters, Larsen and Toubro Infotech Ltd's second quarter was a welcome relief. The results were in line with market expectations, with no negative surprises and a promise of better margins in the second half of FY20. That perked up the stock up in trade on Friday, with LTI gaining 7%.

Investors are clearly relieved that LTI struck the right note this time, with 2.4% revenue growth quarter-on-quarter in constant-currency terms. Also, it won three large deals in the keenly competitive tech environment, which has been well-received by the markets.

The company seems to have shrugged off some of the past negatives. "Although in trade...