Infra Push Helps L&T Maintain Top Slot

L&T is a major engineering, construction, manufacturing, technology and financial services conglomerate with global operations. It addresses critical needs in hydrocarbon, infrastructure, power, process industries and defence in over 30 countries. In its report on new year stock picks, Axis Securities said with government’s announcement of significant push in infra and sub-sectors including roads, railways, ports, airports, and urban infrastructure augurs well for the company. The Capital Expenditure (Capex) outlook for these segments remains strong for the next 3-5 years. With 16 per cent market share in the last five years, L&T has been able to maintain its leadership position in the infra space. Investment Rationale Strong Execution: L&T’s strong execution has led to revenue growth of 13 per cent at Rs66,196 crore during H1FY20. Revenue growth was largely led...