Dolat Capital bullish on Larsen and Toubro has recommended buy rating on the stock with a target price of Rs 1600 in its research report dated January 25, 2019.
Dolat Capital's research report on Larsen and Toubro
Q3 was led by strong execution, and the drop in infra margins due to cost overruns was negated by the lumpiness of the realty. It has held on to its FY19 inflow guidance citing lesser skew in H2/H1 FY19, though while holding on to the revenue guidance is a tad conservative. Remains the best proxy for the Indian infrastructure story.
We continue to maintain our Buy with an unchanged TP of ` 1600.
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