Over weight rating for L&T

Morgan Stanley, a global brokerage firm has given Larsen & Toubro (L&T) an "over weight " rating, setting a target price of ₹4,106 per share, indicating a potential increase of 12 percent from the current level. This comes after L&T secured two defence contract worth rs 13,370 crore. Over the past month, the stock of this capital goods company has risen all over 8 percent out performing the 2 percent increase in Sensex. On jan 30, it reached a 52-week high of Rs 3,738. Recently L&T secured a significant contact from the defence minister to provide high power redars to the Indian Air Force.these radars are designed for long-range aerials surveillance with enhanced reliability. Additionally the. Company won a contract to supply Close In Weapon System (CIWS) developed domestically to IAF. These CIWS system will be stationed at various sites across India to safeguard critical assets from threats posting from low flying, low visibility aerial vehicles, including unmanned

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