homevideos Newsinfrastructure NewsIIFL Institutional Equities recommends buy on L&T with target price of Rs 1,783
IIFL Institutional Equities recommends buy on L&T with target price of Rs 1,783
Renu Baid, Vice President-Research, IIFL Institutional Equities in an interview with CNBC-TV18 analysed L&T's fourth-quarter results.
The house has a buy on dips rating on the stock with a target price of Rs 1,783 and it remains a top pick in the infra space, Baid said. The house has not changed its earnings estimate for L&T because it is already on the lower side, she said.
“We do bake in improvement in infra margins,” Baid added.
With regards to asset monetisation, she said the proposed acquisition of the group’s Electrical & Automation (E&A) business by Schneider Electric is expected to close by end of the first half of FY20 and Rs 10,000-11,000 crore can be received as cash inflow as a result of that deal.
First Published: May 13, 2019 2:35 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Mark Mobius reveals how markets will react if NDA wins 400+ Lok Sabha seats
May 15, 2024 8:09 PM
Wine shops and bars to remain shut for 4 days in Mumbai in 4 weeks, check details
May 15, 2024 7:52 PM
INDIA bloc will win majority seats in Bihar, says Tejashwi Yadav
May 15, 2024 4:20 PM