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The stock quoted a 52-week high of Rs 54000.0 and a 52-week low of Rs 34175.2.

Brokerages remain positive on the issue amid reasonable valuations, growth prospects and dominance in the markets. However, a few have raised concerns over dependence on major brands and online competition.

Larsen & Toubro Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 270012.71 Crore) operating in Construction sector.

The collection efficiency was maintained at 99 per cent, with restructured and NPA books showing healthy collections. The bank continues to focus on stressed buckets and reducing incremental overdue, it added

The brokerage is bullish on the auto major in the wake of its interaction with the management and factors in currency, new product cycle tailwind, lower competitive intensity (launches) and operating leverage.

"The portfolio is 40% invested in India, with a 27% exposure to China and another 11% allocated to Taiwan and Korean technology. The Indian exposure was a positive last quarter though the China exposure was clearly a negative. There is also a 24% allocation to energy, resources and gold. The portfolio remains primarily geared to the domestic demand story in India,” Wood said.

The Nifty IT index is still overvalued when compared to the pre-COVID levels. Even after the recent correction, stocks such as Mphasis, Mindtree, and Persistent Systems are trading at a 33-45% premium to their 10-year average.

Promoters held 48.03 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 25.0 per cent and 13.48 per cent, respectively.

The benchmark Brent crude contract was at $94.30 per barrel, after rising over 7% in last four sessions. Rising oil prices remain a major overhang as India is one of the largest importers of the commodity and higher prices have a direct impact on inflation.

It has compounded earnings by ~20% for an elongated period of time. In the jewellery industry, which is organising at a rapid pace, it is clearly at the vanguard in terms of growth among organised players. Its runway for growth is long, with a market share of ~6%. Unlike other high-growth categories, the competitive intensity from organised and unorganised peers in jewelry is considerably weaker," the brokerage said.