L&T’s strong order book as of Q3FY21 boosts investor confidence

In its recent December quarter results, Larsen and Toubro reported a 2 per cent (y-o-y) drop in topline numbers at Rs 35,600 crore. Revenues were down by 28 per cent and 12 per cent in the first and second quarter of FY21, respectively. Despite the company having reported a drop in revenues in the last few quarters (execution hampered due to the pandemic), investor confidence remains buoyant, following the strong order backlog of the company. The stock recently touched a one-year high of Rs 1,395.75…

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