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Tuesday, April 3, 2012

Stock Research Report - Larsen & Toubro (L&T)

ICICI Direct equity research team has recommended to buy stocks of Larsen & Toubro (L&T).

Stock Outlook:
Larsen & Toubro's (L&T) has been constantly increasing it's order backlog. L&T's FY12E revenue growth guidance of 25% YoY is well on track and is likely to be achieved. L&t has invested Rs.7400 crores in various subsidiaries. These investments, when unlocked will provide big returns for L&t shareholders. At current stock price of Rs.1332, the stock trades at 17.16x and 15.1x its FY13E and FY14E StEPS (standalone business). These stock valuations are certainly attractive as value of subsidiarie is also discounted in the current stock price.

ICICI Direct equity research has recommended to buy stocks of L&T with a target stock price of Rs.1525 with a stop loss of Rs.1208.



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