Shrikant Chouhan of Kotak Securities Limited has a buy call on Larsen & Toubro Ltd. with a target price of Rs 910.0. The current price of Larsen & Toubro Ltd. is Rs 871.8 Time period given by the analyst is Intra Day when Larsen & Toubro Ltd. price can reach defined target. . Shrikant Chouhan recommended to keep a stoploss at Rs 863 .
Larsen & Toubro Ltd., incorporated in 1946, has a market cap of Rs 122370.25 crore.
Investment Rationale
Strong gap up opening followed by strong bullish candle along with incremental volume activity.
Financials
For the quarter ended December 31, 2019, the company has reported a Consolidated sales of Rs 36242.68 crore, up 2.59 per cent from last quarter sales of Rs 35328.45 crore and up 1.49 per cent from last year same quarter sales of Rs 35708.87 crore. The company has reported net profit after tax of Rs 2703.57 crore in latest quarter.
Promoter/FII Holdings
FIIs held 18.78 per cent stake in the company as of March 31, 2020, while FIIs held 16.19 per cent, DIIs 10.14 per cent and public and others 22.65 per cent.