Sharekhan is bullish on Larsen and Toubro has recommended buy rating on the stock with a target price of Rs 1765 in its research report dated October 23, 2019.
Sharekhan's research report on Larsen and Toubro
L&T’s Q2FY2020 results were operationally in-line with estimates driven by Infrastructure, Hydrocarbon and IT&TS (boosted by Mindtree consolidation). Management retained order inflow and revenue guidance for FY2020 backed by strong opening order backlog and healthy order prospects for H2FY2020. Key challenges of lower credit growth in SME, higher working capital requirement and sustained weakness in private industrial capex remains.
Outlook
We maintain our Buy rating on Larsen and Toubro (L&T) with an unchanged PT of Rs. 1,765 owing to its strong order backlog, healthy order prospects and diversified presence.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.
Read More
