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Buy Larsen and Toubro; target of Rs 2175: ICICI Direct

ICICI Direct is bullish on Larsen and Toubro has recommended buy rating on the stock with a target price of Rs 2175 in its research report dated July 27, 2022.

July 29, 2022 / 07:04 PM IST
The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

 
 
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ICICI Direct's research report on Larsen and Toubro


Larsen & Toubro (L&T) India’s largest engineering & construction (E&C) company with interest in EPC projects, Hi-tech manufacturing and services. It primarily operates in Infrastructure, Heavy Engineering, Defence engineering, Power, Hydrocarbon, Services business segments. Infrastructure segment contributes ~45% to consolidated revenue followed services (~30%).


Outlook


We maintain our BUY rating on the stock. We value L&T at Rs 2175 on SoTP basis.


For all recommendations report, click here

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Larsen & Toubro - 280722 - icici

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first published: Jul 29, 2022 07:00 pm
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