ICICI Securities gives Larsen & Toubro buy rating, ₹4,450 target
Business
ICICI Securities is feeling good about Larsen & Toubro (L&T), giving it a buy rating and aiming for a share price of ₹4,450.
This comes after L&T pulled in 24% more orders year-over-year in the first half of FY27, pushing its total order book to a record ₹8.5 trillion.
L&T expects 10-12% order growth
Even with rising costs, L&T managed a 20% jump in core business revenue and expects order inflows to keep growing by 10% to 12%, thanks to a massive ₹10 trillion project pipeline.
The company also improved its financial health by cutting its net working capital ratio from 4.1% to just 1.7%, which analysts say puts it in an even stronger position for future growth.