Sharekhan is bullish on Larsen and Toubro has recommended buy rating on the stock with a target price of Rs 1250 in its research report dated August 28, 2020.
Sharekhan's research repor on Larsen and Toubro
L&T expected to be key beneficiary of the defence opportunities announced in the Atma Nirbhar scheme push, as capabilities already to reap benefits. With more than 95% sites operational and improvement in labour workforce, it is expected to witness gradual recovery in execution by the latter part of FY2021. Order book remains strong and diversified providing healthy revenue visibility. It remains key beneficiary on order inflow arising from infrastructure opportunities as government focus remains on Infra.
Outlook
We maintain our Buy rating on Larsen and Toubro (L&T) with an unchanged PT of Rs. 1,250, considering attractive valuation and healthy fundamentals to ride the current uncertainties.
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