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Nomura, BNP Paribas, and HSBC have upgraded their recommendations for Shree Cement, Larsen & Toubro (L&T), and Glenmark Pharma, signaling potential investment opportunities. These leading global brokerages have revised target prices and ratings based on market conditions and company fundamentals for the upcoming year.
BNP Paribas has maintained an overweight rating on Larsen & Toubro (L&T), citing a robust order inflow growth projected to exceed 15% this year, driven by a significant offshore contract from QatarEnergy LNG. The firm anticipates EBITDA margins to rise from 8.3% to 8.6% next year, supported by major projects and improved working capital management. Additionally, confidence in JSW Infrastructure's growth prospects was expressed, with projected EBITDA reaching ₹90-100 billion by FY30.
Larsen and Toubro (L&T) shares rose 1.6% to Rs 3,499 after BNP Paribas maintained an "outperform" rating, citing a strong outlook for the year. The company recently secured a record $4 billion offshore contract from QatarEnergy, enhancing its growth prospects.Analysts expect L&T's Q4 core revenue to grow by 18%, with overall revenue up 17% year-on-year, supported by an 11% increase in order inflows. Goldman Sachs remains optimistic about the company's performance, dismissing concerns over a potential slowdown in GCC project tendering.
Larsen and Toubro (L&T) shares rose 1.6% to Rs 3,499 after BNP Paribas maintained an "outperform" rating, citing a strong outlook for the year. The company secured a record $4 billion offshore contract from QatarEnergy, enhancing its growth prospects.Goldman Sachs forecasts an 18% increase in core revenue for Q4, with overall revenue expected to rise by 17% year-on-year, supported by an 11% growth in order inflows.
UBS analyst Amit Mahawar has maintained a Neutral rating on Larsen & Toubro (L&T) with a price target of INR 4,000, citing strong order growth and execution despite lower-than-expected core EBITDA margins. The analyst increased forecasts for core orders in FY 2025 and 2026 by 17% and 11%, respectively, but emphasized the need for margin improvements to enhance the stock's outlook.
As the nation prepares for the Union Budget 2025, analysts predict a subdued market response, emphasizing fiscal consolidation and infrastructure investment. UBS and Jefferies warn that capital expenditure growth below 15% could adversely affect industrial firms like Larsen & Toubro Ltd. However, income tax cuts may enhance consumer discretionary spending, with rural recovery potentially benefiting from expanded welfare schemes.
Analysts at BNP Paribas have set target prices for several major companies, with Reliance Industries at Rs 1,650 and Tata Consultancy Services at Rs 4,750. They project a Nifty target of 25,500 for CY25, citing challenges like food inflation and rising US bond yields, while favoring large-cap stocks and banks due to strong earnings growth prospects. Other notable targets include HDFC Bank at Rs 2,550 and Bajaj Finance at Rs 10,000, amidst a mixed earnings outlook and a potential slowdown in Indian equities.
The BSE Sensex has dropped over 10,000 points, or nearly 12%, from its all-time high, reflecting challenging global and local market conditions. BNP Paribas Securities forecasts a potential 10% upside for the NSE Nifty 50 index by 2025, favoring sectors like private banks, IT, and telecoms, while expressing caution towards pharma and metals. Among its top stock picks, SBI Life Insurance stands out with a projected upside of over 70%.
UBS anticipates a muted response from investors to India's FY26 Union Budget, particularly if capital expenditure remains at Rs 11 trillion, similar to FY25. This could negatively affect infrastructure sectors like Larsen & Toubro, which rely heavily on domestic orders amid limited overseas opportunities. While private capex sectors may show resilience, fiscal constraints could hinder ambitious growth measures, with non-tax revenues expected to decline.
The S&P BSE Sensex plummeted nearly 1,000 points, hitting an intra-day low of 80,941.61, amid investor caution ahead of the US Federal Reserve's upcoming meeting. Key factors included a widening trade deficit of $37.8 billion and poor performance from heavyweight stocks like Reliance Industries and HDFC Bank. Despite the overall decline, midcap and smallcap stocks showed slightly better resilience, with only minor losses.
Larsen & Toubro Ltd
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
brokerages upgrade recommendations for shree cement larsen toubro and glenmark pharma
06:32 28.03.2025
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