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17: Why are L&T shares up despite muted Q3
Mark to Market
English - January 24, 2020 10:58 - 4 minutes - 4.19 MBBusiness News News market price finance podcast investing stock market entrepreneurship business business podcast money market share market entrepreneur Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: 16: Are private banks at their moment of truth
Next Episode: 18: Air India's market valuation explained
Shares of the country’s largest infrastructure conglomerate, Larsen and Toubro Ltd (L&T) increased 3.5% on Thursday morning even though the company’s December quarter results, which came after market hours on Wednesday disappointed on some counts. The firm’s last quarter performance mirrors the challenges in the Indian economy primarily of consumption slowdown, weak capex cycle and the prolonged liquidity crunch. Revenue from L&T’s core infrastructure segment declined by 5% year-on-year despite its huge order book worth Rs3.1 trillion. What explains the slow pace of execution?