Can you depend on L&T as a Millionaire stock? | Indian Stocks to Make You a Millionaire

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Can you depend on L&T as a Millionaire stock?

Posted By On 10:54 PM Under
1. L&T has posted Q4 results which has beaten market expectations, PAT is at Rs 966 crore versus Rs 701 crore, sales Rs 8470 crore versus Rs 6240 crore. The company's consolidated PAT is at Rs 2325 crore versus Rs 2240 crore (YoY) and consolidated sales at Rs 29,198 versus Rs 20,347 crore (YoY).The company's Board has declared a dividend of Rs 17 per share. It has also decided to issue bonus shares in the ratio of 1:1 subject to the approval of the shareholders.

2. The company order book stands at Rs 52,000-53,000 crore and expects to continue 30-35% growth in FY09.

3. The company board has approved bonus issue of 1:1.

4. L&T has a medium term target of Rs 3150 and then it can go up further. Stock has strong supports at 2650-Rs 2550.


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