Rs 28 DIVIDEND by NIFTY50 stock: BUY, SELL, or HOLD after Q4 results?
rs 28 dividend by nifty50 stock: buy, sell, or hold after q4 results?
Rs 28 DIVIDEND by NIFTY50 stock: Larsen & Toubro (L&T) shares fell 6 per cent in Thursday’s session after the company reported its fourth quarterly (Q4) results for the fiscal year 2024 (FY24). The engineering and construction major has also declared a dividend of Rs 28 for its shareholders.
L&T Share Price Today
At the time of writing this report, at 12:50 PM, L&T’s shares traded at Rs 3,300 apiece, down 5.36 per cent against its previous closing price.
The share, at its current market price, has declined below its 20-day, 50-day, and 100-day exponential moving averages (EMAs), however, its is still above its 200-day EMA.
L&T Share Price Target 2024
Brokerages have reduced their target prices following a cut in margin guidance by L&T for FY25.
While reporting a 10 per cent year-on-year (YoY) growth in its consolidated net profit at Rs 4,396 crore, L&T reduced its future margin guidance to 8.2-8.3 per cent for FY25 to bake in supply chain disruptions, an uncertain political environment, and ongoing conflicts across several areas.
Brokerage firm CLSA reduced its target price to Rs 4,151 from 4,260 but maintained a ‘BUY’ call on the Nifty stock, Jefferies too has cut its target price to Rs 3,970 from Rs 4,135 earlier, while holding its ‘BUY’ rating.
Morgan Stanley held ‘OVERWEIGHT’ rating while cutting target price to Rs 3,857 from Rs 4,106 earlier.
L&T Share Price History
L&T is a constituent of S&P BSE Sensex and NSE Nifty50 and commands a market price of Rs 4,53,097.65 crore.
Its shares, according to BSE Analytics, gave negative returns of 8.3 per cent in the past one week, 12.88 in the past one month, and 6.40 on an year-to-date (YTD) basis.
Over six months, oe yera, three years, five years and 10 years, the construction sector stock delivered returns of 9 per cent, 38.9 per cent, 104 per cent, 145.5 per cent, 143 per cent, and 268 per cent.
L&T Q4 Results 2024
- L&T posted 10% growth in its consolidated net profit at Rs 4,396 crore.
- Consolidated revenues stood at Rs 67,079 crore, a growth of 15% year-on-year (YoY).
- The Board has also recommended a final dividend of Rs 28 per share.
- Consolidated PAT came in at Rs 13,059 crore, a growth of 25% YoY.
- L&T received orders worth Rs 3.02 lakh crore at the group level during the year ended March 2024, registering a 31%. YoY growth.
- International orders stood at Rs 1.63 lakh crore during the year and comprised 54% of the total order inflow.
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