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Last Updated : Dec 06, 2019 12:57 PM IST | Source:

Buy Larsen and Toubro target of Rs 1700: Sharekhan

Sharekhan is bullish on Larsen and Toubro has recommended buy rating on the stock with a target price of Rs 1700 in its research report dated December 04, 2019.

Broker Research @moneycontrolcom
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Sharekhan's research report on Larsen and Toubro

L&T’s weak order inflows for YTDQ3FY2020 may lead to downward revision in management’s order inflow guidance of 10-12% for FY2020. However, strong order book should ensure healthy execution for FY2020-FY2021. Maharashtra’s CM clarification on stoppage on work on projects awarded by the previous government sends positive signal about continued thrust on infrastructure for the state. We expect the government’s thrust on infrastructure investment to remain and expect revival in project tendering as early as Q4FY2020.


We maintain our Buy rating on Larsen and Toubro (L&T) owing to attractive valuation post the recent correction. Our revised PT of Rs. 1,700 factors lower valuation multiple for the standalone business due to near-term challenges in the sector.

For all recommendations report, click here

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First Published on Dec 6, 2019 12:57 pm
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