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Larsen & Toubro Ltd is set to hit higher end of its FY18 order inflow guidance of flat to 5 per cent growth, Nomura analysts say in a note.
According to them, Q3 has seen possibly the strongest quarterly order inflow in the last few years after announcing Rs 35,000 crore ($5.51 bln) worth of orders, up 118 per cent y-o-y. The company and its units have announced at least 10 orders in October-December quarter, according to Thomson Reuters Eikon data.
Twenty-nine of 38 brokerages have rated the stock as “buy” or higher, eight “hold” and one “sell"; median price target is Rs 1,416, according to Thomson Reuters Eikon data. The stock has risen 12.5 per cent in October-December quarter.
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