L&T shares fall ahead of Q2 numbers

NEW DELHI: Shares of capital goods major Larsen & Toubro (L&T) developed cold feet and slipped over 1 per cent to Rs 1,252.25 in morning trade on Wednesday.

The stock fell ahead of its September quarter earnings due later in the day. Analysts say working capital, operating profit margin (OPM) and order intake would be key monitorables in the earnings.

Brokerage Edelweiss Securities expects nearly 50 per cent jump in actual order intake during the quarter. PhillipCapital sees 12 per cent YoY growth in revenues led by 11 per cent growth in core E&C segment and strong growth in IT and financial services.
It expects profit for the company to rise 3.8 per cent to Rs 1,747.50 crore. Revenues are seen at Rs 29,642.50 crore. "Ebitda margins will expand 105 bps YoY led by expansion in IT and financial services margins," the brokerage said.

The stock traded at Rs 1,258.75 apiece, down 1 per cent, around 10:10 am. The benchmark Sensex was 0.48 per cent down at 33,728 at that time.

Original Article


ET Markets