L&T - Oct 5, 2020 - Angel Broking

Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

"L&T on Monday announced that it has been awarded significant contracts for its varied businesses. Significant contracts means order in the range Rs.1000-Rs.2500 cr. Considering the small size of the order compared to its order book of ~Rs. 3 lakh crore, stock has not reacted to this news. Market would be keenly watching Government spends on the infrastructure sector in the environment of muted private capex. Things are in an improving trend for the Company as labourers count are increasing as well as the economy is on the path of recovery. Increase in infrastructure spend by the Government and private sector as well as bagging new big orders will be key triggers for upsides in the stock."

Shares of LARSEN & TOUBRO LTD. was last trading in BSE at Rs.896.85 as compared to the previous close of Rs. 902.95. The total number of shares traded during the day was 105597 in over 8023 trades.

The stock hit an intraday high of Rs. 908.5 and intraday low of 895.05. The net turnover during the day was Rs. 95103128.

Source : Equity Bulls

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