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Analysts keep faith in Larsen & Toubro despite buyback proposal

The buyback proposal, analysts believe, is a way of paying back the shareholders in the absence of any major business investments on the horizon.

L&T

Analysts remain bullish on Larsen & Toubro (L&T) and have maintained a ‘buy’ rating on the stock despite the company’s buyback proposal. The company, at its meeting on Thursday, approved a proposal to buy back up to 60 million equity shares at a maximum price of Rs 1,500 per equity share for an amount of Rs 90 billion. Also Read: From buyback to criticism of A M Naik: Many firsts at L&T's 73rd AGM The buyback proposal, analysts believe, is a way of paying back the shareholders in the absence of any major business investments on the horizon. This, ...