L&T can rally up to 21% on strong ordering and execution trend: Nomura
“L&T delivered a robust 2QFY23 on execution and order inflows; however, 2QFY23 infra EBITDA margins were impacted by 80 bps due to close-out challenges in a couple of projects, which are now behind us. We expect EBITDA margins to rebound from 2HFY23F as commodity prices have corrected sharply,” said Nomura in a report.
