Larsen & Toubro Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 158845.48 Crore) operating in Construction sector.
By ETMarkets.com | Updated:
Promoters held 0 per cent stake in the company as of Sept 30, 2020, while FIIs held 19.1 per cent, DIIs 35.5 per cent and public and others 45.4 per cent.
Edelweiss has given a buy rating to Larsen & Toubro with a target price of Rs 1280. The share price moved up by 0.80 per cent from its previous close of Rs 1115.70. The stock’s last traded price is Rs 1124.60. Larsen & Toubro Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 158845.48 Crore) operating in Construction sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 31034.74 Crore, up 45.98 % from last quarter Sales of Rs 21259.97 Crore and down -12.15 % from last year same quarter Sales of Rs 35328.45 Crore. Company reported net profit after tax of Rs 5876.54 Crore in latest quarter.
Investment Rationale While the brokerage acknowledges current challenges - sub-optimal returns led by cyclical challenges in E&C, Hyderabad Metro, NBFC, etc, L&Ts medium-term focus on making the business asset-light with high cash flow generation potential could drive a better re-rating if executed well. Improving macros and domestic capex would be complementary Promoter/FII Holdings Promoters held 0 per cent stake in the company as of Sept 30, 2020, while FIIs held 19.1 per cent, DIIs 35.5 per cent and public and others 45.4 per cent.
