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Buy Larsen & Toubro, Target Price Rs 4047: Prabhudas Lilladher

Prabhudas Lilladher has given a buy rating for Larsen & Toubro with a target price of Rs 4047. The current market price is Rs 3664.5.

About the Company:

Larsen & Toubro Ltd. (L&T) was established in 1946 and is a large-cap company with a market capitalization of Rs 503967.26 crore. It operates in the construction sector.

Revenue Sources:

L&T earns revenue from several sources, including:

  • Construction work
  • Manufacturing and trading activities
  • Other services
  • Operating revenue
  • Property development
  • Commissions
  • Engineering services
  • Lease rentals

Financial Performance:

For the quarter ending March 31, 2024:

  • The company’s consolidated total income was Rs 68120.42 crore, which is a 21.72% increase from the previous quarter’s total income of Rs 55965.57 crore.
  • Compared to the same quarter last year, the total income increased by 15.31% from Rs 59076.06 crore.
  • L&T reported a net profit after tax of Rs 5003.54 crore.

Ownership:

As of March 31, 2024:

  • Promoters held 0% stake in the company.
  • Foreign Institutional Investors (FIIs) owned 24.36% stake.
  • Domestic Institutional Investors (DIIs) held 38.06% stake.

Conclusion:

Prabhudas Lilladher recommends buying L&T shares with a target price of Rs 4047, reflecting confidence in the company’s strong financial performance and growth potential.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

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