Dolat Capital is bullish on Larsen and Toubro has recommended buy rating on the stock with a target price of Rs 1600 in its research report dated July 11, 2019.
Dolat Capital's research report on Larsen and Toubro
The AR outlines well-articulated plans across various verticals, together with plans to leverage its experience for new business. It outlines robust public capex in various areas, though private capex is tentative. The company’s focus remains on ROE expansion, aided by an increasing services portfolio, which will be further enhanced with the addition of Mindtree in its arsenal. It is preparing the post FY22 strategic plan, while simultaneously building capabilities and bandwidth.
The company’s order inflow and revenue guidance for FY20 was strong, and we believe the improving margins and robust order book of `2.9trn give us clear visibility of achieving the revenue growth and target RoEs. We continue to maintain a Buy rating for the stock, with a TP of ` 1600.
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