4 Bonus Issues: Buy L&T Shares Amid Robust Order Book, TP Rs 3760-4150: Analysts Bullish

Two noted brokerage houses are upbeat on Larsen & Toubro Ltd share and recommended buy call. Prabhudas Lilladher has recommended buy on L&T shares with target price of Rs 3760. Meanwhile, ICICI Direct assigned buy rating to Larsen & Toubro shares with target price of Rs 4150. ICICI Direct consider L&T as the best capex play in large cap capital goods space. Current market price of Larsen & Toubro shares on BSE is Rs 3535.40 apiece with intraday fall of 1.97%. The company has a market capitalisation of Rs 4,85,986.57 crore. Check details below:

Larsen & Toubro Shares Performance & Return: The 52-week high price of Larsen & Toubro stock on BSE is Rs 3738.90 per share and 52-week low price is Rs 2122.20 per share, respectively. Larsen & Toubro shares offered return of 21% in last 6-months, gained 62% in last 1-year, and rallied 103% in last 2-years. In last 3-years, Larsen & Toubro shares gave return of 138% and rose 153% in last 5-years. The scrip surged 322% in last 10-years.

Larsen & Toubro Ltd Dividend History: The large cap comapny has declared 29 dividends since June 21, 2001. In the past 12 months, Larsen & Toubro Ltd. has declared an equity dividend amounting to ₹30.00 per share. At the current share price of ₹3537.1500, Larsen & Toubro Ltd.'s dividend yield is 0.85%.

Larsen & Toubro Bonus Share History: Larsen & Toubro Ltd recommended 4 bonus shares since September 28, 2006. The last bonus that Larsen & Toubro Ltd declared was in the proportion of 1:2 with ex-bonus date fixed as July 13, 2017, according to Trendlyne.

ICICI Direct Recommends Buy: The analyst said, "We assign BUY rating to L&T. We value L&T at SOTP-based target price of Rs 4160 (Base business at 30x FY26E EPS) and consider as the best capex play in largecap capital goods space." Order prospects for L&T for Q4FY24E stands at ~₹ 6.3 lakh crore, up 29% YoY with majority of its prospects coming in from infra and hydrocarbon segment. With 49% YoY growth in order inflows and order backlog at ₹470000 crore makes us believe that L&T will easily deliver a revenue CAGR of ~14% over FY24E-FY26E. If you buy Larsen & Toubro stock now, you can fetch potential gain of 17.67%

Prabhudas Lilladher Says Buy L&T Shares: The renowned brokerage firm gave buy call with target price of Rs 3760 to Larsen & Toubro shares. If you Larsen & Toubro share now, you can get return of 6.35%.

Larsen & Toubro Recent Deals: Recently, Bharat Electronics (BEL) on March 14 inked an alliance with Larsen & Toubro (L&T) for supplying Communication and Electronic Warfare (EW) sensors and systems worth Rs 847.70 crore. The leading civil construction company bagged a 'major' onshore gas pipeline project from Middle East on March 14, 2024. L&T classifies orders ranging between Rs 5,000 crore and Rs 10,000 crore as 'major' orders.

About: Larsen & Toubro is a USD 23 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services. It operates in over 50 countries worldwide. A strong, customer-focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

Disclaimer: The stock has been picked from the brokerage report of ICICI Direct and Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.