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Larsen and Toubro stock up 23% in last one year

Larsen & Toubro stock has gained 23% in the last one year, outperforming Sensex's 8% gain.

The company's December quarter numbers were on expected lines, with consolidated net profit rising 24% YoY and revenue growing 17%.

Analysts have a 'strong buy' on the stock, with Khadija Mantri recommending it with a SOTP-based target price of rupees 2,455.

The company has a good order pipeline and is reaping benefits from increasing investments in defence, infrastructure, heavy engineering, and IT sectors.

CapitalVia Global Research noted that the company's net sales in the previous quarter increased by 17.26% YoY and has a small amount of debt compared to its capital.

 Stock Brokers observed that the stock had been making higher top and higher bottom structures, but recently broke its parallel channel with negative divergence on daily RSI.

Prabhudas Lilladher noted that the stock has reached near the trendline support, indicating a trend reversal with an improvement in the bias.

The stock is expected to move till rupees 2,240-2,250 levels, where it can face some resistance, and a decisive breach below rupees 2,080 would turn the bias weak.

The company aims to improve RoE to 18% under Lakshya FY26 through the sale of non-core assets/strategic capital allocation.

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Larsen and Toubro stock up 23% in last one year; Find out why!

The company's consolidated net profit rose 24 percent year-on-year (YoY) to ₹2,553 crore in the third quarter of 2022-23 (Q3FY23).

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Larsen and Toubro stock up 23% in last one year; Find out why!

The company's consolidated net profit rose 24 percent year-on-year (YoY) to ₹2,553 crore in the third quarter of 2022-23 (Q3FY23).

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