Latent View gets dynamic

Shares of Latent View Analytics were among the notable gainers on the BSE today morning, rising about 6.5% to around Rs 480. The stock opened at Rs 453.65 and briefly touched Rs 481.60, with volumes of a little over 1 lakh shares versus a two-week average of about 39,000 shares, indicating fresh buying interest rather than just thin-volume volatility.

At current levels the stock trades about 8% below its 52-week high of roughly Rs 520 and implies a market capitalisation near Rs 9,900 crore, with a rich trailing consolidated P/E multiple of about 41 times and PB of about 8.5.

Fundamentally, Latent View is a pure-play data analytics and AI services company, working with more than 30 Fortune 500 clients across technology, consumer, BFSI, retail and manufacturing, and positioning itself as a digital-transformation and decision-support partner rather than a traditional IT outsourcer.

The latest Q2 FY26 print showed operating revenue of Rs 257.5 crore, up 23% YoY, with EBITDA of Rs 56.1 crore at a healthy 21.8% margin and PAT of Rs 45.7 crore, up about 15%,  signalling that growth and profitability are now moving in tandem again after a period of margin compression.

Strategically, the Street is treating Latent View as one of the cleaner listed plays on the AI and analytics theme in India.

As GCCs move from back-office work towards AI-led, data-intensive roles, firms like Latent View that already serve large global clients and understand both the business domain and the AI stack are well placed to capture a disproportionate share of that spend.

From a risk–reward angle, today’s up-move looks more like a continuation of an ongoing re-rating than a reaction to any fresh trigger: the stock has strong fundamentals and a supportive AI/GCC backdrop, but valuations already discount a long runway of mid-20s type growth and sustained 20% plus margins.

The key variables to watch will be the pace of scaling in GenAI projects, growth in the top 20–25 strategic accounts, and the company’s ability to convert India’s GCC build-out into multi-year, annuity-like analytics engagements without sacrificing margin discipline.