Preview: India's Larsen & Toubro inches up ahead of results

Dilip Buildcon

08/05/2024 07:30

** Shares of Larsen & Toubro  LART.NS  up as much 1.5% in
volatile session ahead of Q4 results later in the day; last up
0.8%
        ** Analysts expect low single-digit pct profit growth
for infra firm, per LSEG data, while LART has reported
double-digit pct growth for last seven quarters
  
    ** Engineering and construction segment expected to
contribute to rev growth; firm projected to perform well
compared to peers due to order book strength - Elara Capital
        ** Smaller peers Dilip Buildcon  DIBL.NS  and IRB
Infrastructure  IRBI.NS  up 3.7% and 3.1%, respectively 
  
    ** Separately, LART on Wednesday said its power transmission
and distribution unit secured order worth 50 bln rupees-100 bln
rupees ($598.8 mln-$1.20 bln)
    ** Analysts' rating for LART is "buy"; median PT 4,051
rupees - LSEG 
    ** LART down 2% YTD vs 2.6% rise in benchmark Nifty 50
 .NSEI  


($1 = 83.4990 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))