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Despite several headwinds, analysts are turning positive on L&T stock

The company has been winning large-ticket orders lately, though the orders bagged, so far, are less than the year-ago level

Larsen and Toubro
Image: iSTOCK

After a cautious and calculated guidance on order inflows by India’s infrastructure behemoth Larsen and Toubro (L&T) for FY20, the past few weeks seem to have pleasantly contrasted the projection. From the EPC (engineering, procurement and construction) contract for Navi Mumbai airport to a 1,320-megawatt boiler EPC order from THDC, worth about Rs 5,000 crore, the going has thus far been good for L&T in terms of orders. The optimism, though, isn’t reflecting on its stock price, which has fallen by over 8 per cent year-to-date and down by over 17 per cent from the high clocked ...