Broking house, P-Sec has recommended hold rating on the Larsen and Toubro , L&T.
P-Sec report on Larsen and Toubro:
"L&T has announced that the Company has won a contract valued over Rs 5400 cores from the GMR-led Delhi International Airport Pvt Ltd for the expansion and modernization of the Delhi International Airport. It is an endto-end contract that involves design and construction of passenger terminal and runways."
"The order inflows during H1 FY07 were at Rs 135 billion up by 50% y-o-y and order backlog stood at Rs 307 billion up by 52% y-o-y, with almost 60% orders from oil & gas and infrastructure segments. The order booking for the Q2 FY07 was Rs 61.4 billion."
"For Q2FY07 L&T reported a subdued result as the topline grew by 11% y-o-y and the Net Profit was up by 41% y-o-y, the net profit margins have expanded by 115bps to 5.39% on the back of operating margin expansion witnessed in all the business segments."
