ICICI Direct has given Buy recommendation for Larsen and Toubro with a target price of Rs. 2175 in its research report issued on Jul 27, 2022

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.

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