Engineering and construction conglomerate Larsen & Toubro (L&T) - which is in 14 stock screeners - has been on the upswing in the last month after an early blip, with the share price of the stock up 7%+. The stock has been in Trendlyne's top DVM Select strategy, which makes long-term picks.
L&T gained as news on recent order wins came in, with the company saying that L&T Hydrocarbons has won a new order from ONGC which falls into the 'significant' category, meaning it ranges from Rs. 1,000-2,500 crore. The order was won by L&T after a process that included international bids.
How is the company poised for the financial year? L&T Management has guided for an order inflow growth of 10-12% and revenue growth between 12-15% for FY19.
On the margins front, expectation has been of an improvement of 25 basis points (excluding services). The public sector has continued to drive order inflow in the third quarter, while some optimism returning in the private sector. Private sector orders stand at 20% of the company's order book, while PSU share stands at 38% - centre at 10% and state at 32%.