Will L&T become the world’s favourite Indian stock?
top wealth creators in the Indian share market. It had a rock-solid balance sheet, close to zero non-performing assets (NPA), and the company doled out consistent dividends even during times of distress. Not to mention its resilience stock price performance.
After its merger with HDFC Bank, the latter now has a large balance sheet, lower unsecured loans, and a vast customer base. Investors didn’t need to look elsewhere when they needed to rely on a stable business . Multiple factors made HDFC an investor's favourite stock.
The question is which stock would be the heir apparent to HDFC now that the company has stopped trading after its merger with HDFC Bank? One company that we could think of that has ranked high across parameters is Larsen and Toubro (L&T). Let’s do a deeper analysis of the company and see how it’s preparing itself for the next leg of growth. Business Overview of L&T L&T was established in 1946 as a manufacturing company producing dairy and allied equipment.
It then expanded into repairing ships and construction. Today, the company is the most respected multinational conglomerate that operates in over 50 countries with unmatched capabilities in all its businesses, including construction, engineering, technology, and manufacturing. L&T has over the years forayed into multiple business verticals, including infrastructure, power, hydrocarbon, metal and minerals, defence, aerospace, information technology (IT), products, systems and equipment, finance, and real estate.
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