Buy Larsen & Toubro, target price Rs 1745: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has buy call on Larsen & Toubro Ltd. with a target price of Rs 1745.
The current market price of Larsen & Toubro Ltd. is Rs 1667.45 Time period given by analyst is Intra Day when Larsen & Toubro Ltd. price can reach defined target.

Larsen & Toubro Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 234344.28 Crore) operating in Construction sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 29982.70 Crore, down -38.96 % from last quarter Total Income of Rs 49116.16 Crore and up 36.05 % from last year same quarter Total Income of Rs 22037.37 Crore. Company reported net profit after tax of Rs 1556.18 Crore in latest quarter.


Investment Rationale
Come out of its range on weekly frame and surpassed its previous hurdles with increased volumes.

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of June 30, 2021, while FIIs held 24 per cent, DIIs 32.5 per cent and public and others 43.5 per cent.