L&T Is Strong Beneficiary Of A Capex Pickup: Anand Rathi
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Anand Rathi Report
We are upbeat about Larsen and Toubro Ltd. as one of the key beneficiaries of infrastructure development for 90% of the addressable opportunity in the government’s Rs 102 trillion planned investment over FY20-25 under the flagship national infrastructure pipeline.
We expect hydrocarbon capex in the Middle East to revive because of rising crude-oil prices.
Management is firm about restructuring non-core assets such as the Hyderabad metro-rail, power projects and road assets, which have been impacting return ratios.
We expect net worth capital to stabilise, resulting in better cash-flows.
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