Construction and engineering conglomerate Larsen & Toubro (L&T) was a strong performer last year, meeting multiple guidances and delivering on strong order growth especially domestically. However, government orders have slowed in the past few months in the buildup to elections - in part as the govenrment focuses efforts and funds in courting voter demographics rather on new infrastructure project announcements.
Technicals have weakned as analysts have pointed out to a slowing down in new order announcements. L&T share price is currently below is 30 Day SMA (1412.39) as well as its 50 day SMA (1390.52). It is still above its 200 day SMA (1332.47). Other technicals are mid-range - basically pointing to investors and traders waiting for some good news in terms of new order announcements. The company is in 7 stock screeners.