L&T's operational performance not very exciting; maintain 'buy' on stock: IIFL’s Renu Baid

Renu Baid, Vice President-Research at IIFL Institutional Equities, on Wednesday said that Larsen & Toubro's (L&T) operational performance in Q3 was not very exciting though the company reported better than expected results.

“The silver lining essentially was the order inflow which was evident from the orders that the companies were announcing over the last two-three months, but operationally, we didn’t find the results very exciting," Baid said in an interview with CNBC-TV18. The company clocked in its highest-ever quarterly order inflows.

IIFL Institutional Equities maintains a 'buy' call on the stock with a target price of Rs 1,635. L&T remains its preferred pick in the largecap space.