L&T’s FY17 annual report shows that 6.92 crore stocks are held by investors with less than 500 shares each.
The tractor industry in the three months to June climbed 26 per cent to 2,24,729 units.
In the five-year vision plan, the company has stated to pursue a light-asset approach.
In the three months to June, FPIs net sold Rs 17,000 crore of Indian equities.
The Street has been penciling in EBITDA margin of 30 per cent for the next two fiscal years.
After initial panic over Turkey’s meltdown eased, investors were seen looking for buying opportunities as EM valuations are cheapest since early 2016.
Analysts point out that once operating leverage kicks in, it will expand RoE in the coming years.
The company’s market share in the twowheelers business dropped 90 basis points.
By traditional PE gauge, Indian equities are in a valuation zone not seen in the past two decades.
Escorts is trading at 13 times its projected earnings of the next fiscal year.
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