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L&T board approves plan to raise Rs 7,500 crore

Engineering major Larsen & Toubro (L&T) on Tuesday said the companys board has approved a proposal to raise funds worth Rs 7,500 crore.

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l&t q3 earnings: L&T Q3 Results: Net profit rises 15% YoY to Rs 2,947 crore

During the quarter, the company received orders worth Rs 75,990 crore at the group level registering a growth of 25% on a year-on-year basis. Orders were received across businesses like offshore verticals of hydrocarbon, solar EPC & Power Transmission, Water Utilities, Buildings & Factories, and Minerals & Metals sectors. International orders at ₹ 50,562 crore during the quarter comprised 67% of the total order inflow.

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l&t share price fall: L&T shares plunge 5% amid Q3 misses. Should you buy or sell?

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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Margin concerns, uncertainties regarding overseas order flow likely to drag L&T valuation

India’s largest infrastructure company pruned the FY24 guidance for operating margin before depreciation and amortization (EBITDA margin) by 50 basis points to 8.25%-8.5% from 8.5%-9%. The management had earlier guided for a gradual improvement in the margin, mostly in the second half.

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