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Motilal Oswal Report
Larsen & Toubro Ltd. reported a better-than-expected performance for the June quarter, led by strong order inflows, resilient execution in its core engineering and construction (E&C) business and stable margins.
Following the results, Motilal Oswal Financial Services retained its 'Buy' rating on the stock and raised its target price to Rs 4,550 from Rs 4,500, implying an upside potential of about 19% from current levels.
According to the brokerage, L&T delivered a beat across most key parameters during Q1 FY27. Consolidated revenue rose 7% YoY to Rs 67,900 crore, while profit after tax increased 14% YoY to Rs 4,100 crore, both coming ahead of MOFSL's estimate.
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