Key Points
The stock of Larsen & Toubro has gained 11% over the past three months compared with the 7% gain in the S&P BSE Capital goods index..
The outperformance of Indias largest infrastructure company is likely to sustain given the strong order flow and execution in the September quarter.IANSL&T prospective order book also expanded by 39% year-on-year to Rs 8.3 lakh crore for the second half of FY24..
ET Intelligence Group: Notwithstanding the current redemption pressure, the capital goods sector has been the top bet of foreign investors in recent times given the upbeat order flow...
The core order inflow, which consists of infrastructure and hydrocarbon divisions, nearly doubled year-on-year to Rs 73,038 crore in the second quarter of FY24 taking the growth for the first half of the fiscal year growth to 88%..
The company has revised margin guidance to 8.5-9% from 9% earlier, possibly due to the increasing share of international orders which typically fetch lower margins...
