L&T - Still not too late to turn bullish... - ICICIdirect

Larsen and Toubro (L&T) reported a mixed performance for Q3FY13. Revenues and margins were a tad below expectations yet we believe there is no cause for alarm, given the very nature of the EPC businesses. The management has, at the same time, pointed at meeting its full year guidance in terms of revenue growth and operational profit (at +/- 50-100 bps).

The key monitorable, order inflows at Rs.19,595 crore, surpassed Street expectations by a notable margin, showcasing L&T's ability to garner new business despite a challenging business environment and tough competition.

We believe, for the uninitiated, it is not too late to turn bullish.

Source : Equity Bulls

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