Key Points
Sanjiv Bhasin, Director, IIFL Securities, says do not think of the run-up that L&T has already had, but think of the future because now there is a new tie up with Hindustan Aeronautics..
Defence has taken centrestage after Chandrayaan 3. Larsen & Toubro fits the bill perfectly..
One, it has defence prowess; two, it is in infrastructure areas like hydrocarbon, electrical and infrastructure..
Secondly, the company has clearly stated that the receivables from across the globe which were written off when it was held by Shapoorji Pallonji, are all due for being backed because there are litigation cases which can sound very positive.. Thirdly, it's the cheapest MEP (Mechanical, Engineering, Plumbing) play in the world..
It's in the ASM segment and I would definitely recommend to put at least 20% of your capital because this stock can be a multi-bagger over a period of time given the business and given how well they are positioned to take advantage of India's solar capacity..
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