Goldman Sachs maintains buy call on L&T; stock gains

Shares of infra major L&T gained by nearly 1 per cent in Wednesday's session as the global brokerage Goldman Sachs has continued with its buy rating on the stock for a target of Rs 3700 per share. 

At the last count, shares traded higher by 0.6 per cent at Rs 3,714.5 per share on the BSE, while at day's high it scaled to Rs 3,719.1.

In the management meet, the infra company's management continued with the earlier order flow as well as income growth guidance for FY25. The company remains bullish on the capex outlook in India, as well as Middle East

Further, it mentioned that the growth targets shall be aided by the company's pipeline as well as order book. Also, the company is drawing benefit from the government's consistent medium-term double-digit capex rowth guidance.

The brokerage maintained that the metals and mining sector is showing revival. Also, fdata centers, semiconductors and green hydrogen looks positive for the long term. 

Moreover, there are many opportunities in the nuclear segment.

Meanwhile, another brokerage Jefferies also suggests a buy on the stock for a target of Rs 4,165, implying gains of nearly 13 per cent.

L&T share price performance

The stock has gained over 30 per cent from its 52-week low price. The stock in the last one year has gained by 28 per cent.