CLSA has upgraded its outlook on L&T Tech to outperform from underperform and also raised the share target price to Rs 2,020.
L&T Tech had announced two large deals in the last few days; one is a $100 million deal for five years in the oil and gas space.
According to CLSA, revival in the engineering and oil and gas space will meaningfully improve the earnings for L&T Tech. Hence, they have raised the FY22 and FY23 EBIT by 8 percent and 10 percent respectively.
In the special segment ‘Standout Brokerage Report’, CNBC-TV18’s Nimesh Shah shares the full details.
Watch the video for more