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The stock price of Larsen and Toubro (L&T) has underperformed the BSE Sensex over the last 3-6 months, primarily on account of its poor quarterly performances and rich valuations that provided limited scope for disappointment. However, after this underperformance, we believe that the stock has once again entered a comfortable valuation zone and will undoubtedly catch the eye of long-term investors, given that L&T is the largest E&C player with opportunities abound and has a ~24% CAGR earnings’ story over FY2010-12E. Hence, we Initiate Coverage on the stock with an Accumulate.Download Full Report
|MCAP BSE (Rs in Cr)||140,829.08|
|MCAP NSE (Rs in Cr)||140,861.72|
|Div Yield (%)||1.21|
Shareholding Pattern (%)
|Public & Others||33.0|