Sharekhan has given Buy with a revised PT recommendation for Larsen & Toubro with a target price of Rs. ekhan is bullish on Larsen & Toubro has recommended buy with a revised PT of Rs. 2,150 in its research report issued on Oct 27, 2021

Outlook

Maintain Buy with a revised PT of Rs. 2,150: L&T’s healthy operational performance despite supply chain challenges and seasonality along with retaining guidance related to execution, order intake, OPM and working capital for FY2022 are key positives emerging out of the Q2FY2022 results. International outlook looks buoyant with a pick-up in crude oil prices. On the longer term, L&T remains at the forefront to reap benefits from the AtmaNirbhar Bharat Scheme with its diversified businesses across sectors such as defence, infrastructure, heavy engineering, and IT. The company remains the best proxy for domestic capex and an improving business environment. We maintain our Buy rating on the stock with a revised SOTP-based price target (PT) of Rs. 2,150 factoring upwardly revised valuation of its key IT&TS subsidiaries and favourable core business valuation.

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