Hot Chips - Larsen & Toubro
Ali On Content / 24 May 2010
The stock has witnessed a subdued movement for the last six months due to somewhat lacklustre quarterly results. L&T registered a robust order inflow of Rs 23843 crore for 4QFY10 and Rs 69752 crore for FY10
Larsen & Toubro
BSE Code: 500510
Volume: 516412
CMP: Rs 1636.40
Larsen & Toubro & Toubro (L&T), in the past, has always traded with a premium to the Sensex consistently. This consistency is backed by better return ratios in excess of 20 per cent, strong operating cash flows and better capital efficiency. The stock has witnessed a subdued movement for the last six months due to somewhat lacklustre quarterly results. L&T registered a robust order inflow of Rs 23843 crore for 4QFY10 and Rs 69752 crore for FY10. Orders of approx. 95 per cent for the year came from the local market, taking the oder book to Rs 1,00,239 crore. The concern that has loomed large on the stock is likely to fade away with better financial numbers going ahead and concerns on the execution part. Therefore we feel that there is still some steam left with the stock that will help the stock to move northward and can be looked upon from a short-to-medium term perspective.
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