Buy Larsen & Toubro, target price Rs 1850: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has buy call on Larsen & Toubro Ltd. with a target price of Rs 1850. The current market price of Larsen & Toubro Ltd. is Rs 1766.8.

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 248153.55 Crore) operating in Construction sector.

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Larsen & Toubro Ltd. key Products/Revenue Segments include Income From Construction Work, Income from Manufacturing and Trading Activities, Other Operating Revenue, Other Services, Commission, Service (Engineering), Lease Rentals and Property Development for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 35305.04 Crore, up 17.75 % from last quarter Total Income of Rs 29982.70 Crore and up 11.75 % from last year same quarter Total Income of Rs 31593.77 Crore. Company reported net profit after tax of Rs 2231.33 Crore in latest quarter.

Investment Rationale
Continued strength with buying on every declines despite dullness in broader market.

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Sep-2021, while FIIs owned 22.86 per cent, DIIs 33.11 per cent.

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