L&T shares plunge 5% amid Q3 misses. Should you buy or sell?

January 31, 2024

Shares of Larsen & Toubro (L&T) fell over 5% on NSE after Q3 earnings missed estimates. Kotak Institutional Equities downgraded L&T stock to ‘Sell’. Citi maintained ‘Buy’ stance, citing healthy order inflows and execution. L&T reported a 15.5% YoY growth in consolidated net profit for Q3. Consolidated revenue rose nearly 19% YoY. L&T remains well-placed to benefit from capex growth in India and Middle East.

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