FII has 25% stake in Larsen & Toubro. This stock has increased by 7% in a month. This stock has given 65% return in one year.
New Delhi. Small cap stocks have been battered since last month. The BSE Small Cap Index has lost 8 percent in the past one month and has fallen 5 percent in the last five trading sessions. Many market experts now advise investors to invest in large cap stocks. If you are looking for a good large cap stock, you should invest in Nifty 50 Large Cap Stock Larsen & Toubro Share Price. 28 brokerage firms have given a buy recommendation on the stock.
The stock gave a positive breakout by breaking the Rs 3400 level in late February and touched the Rs 3713 level. The 52-week price of L&T shares is Rs 3,737.90. However, the stock has continued to book profits for the last five trading sessions. Today i.e. Friday, March 15, this share fell by almost two percent to close at the level of Rs 3537.15. Although the stock has declined, the brokerage’s stance on the stock is positive.
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Support is available at the 3510 level.
Market experts say that the stock seems to be taking support from the 3510 level. The stock, which is in an uptrend, is trading on a 50% retracement of the rally starting from the Rs 3400 level to the Rs 3713 level. After this retracement, an upward rally could start again which could take it beyond the all-time high of 3737.
28 brokerages have a buy recommendation.
According to Trendline data, 28 analysts recommend buying the stock. Prabhudas Laladhar recommends Larsen & Toubro Buy with a target price of Rs 3760. The stock has gained 7% in the past one month. Also, this stock has given investors 21% profit in six months. Larsen & Toubro’s share price has risen 62% in a year.
FIIs have also invested money.
Foreign portfolio investors (FIIs) hold 25.5% stake in Larsen & Toubro in the December 2023 quarter. For the past several quarters, FIIs have kept their stake in this large stock at around 25%. Thus, mutual funds held 17 percent of the shares in the December quarter.
(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).
Tags: money making tips, Stock market, Stock tips
First Publication: March 15, 2024, 19:50 IST
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