Technically: Candle pattern "Bullish HARAMI"
Corporate Action: First ever Buy Back, Amount may be 12500 Cr.
L&T' had cash and cash equivalents worth Rs' 8,700 cr. on its balance sheet at the end of the previous financial year.
In the last few quarters, L&T' had sold a couple of non-core assets which are expected to boost its recent cash balance.
It may be noted that L&T' reported a net profit of Rs' 1,214 cr. for the April-June quarter,
36 per cent higher from Rs' 892 cr. reported in the corresponding quarter of previous fiscal.
Education Purpose only.
Corporate Action: First ever Buy Back, Amount may be 12500 Cr.
L&T' had cash and cash equivalents worth Rs' 8,700 cr. on its balance sheet at the end of the previous financial year.
In the last few quarters, L&T' had sold a couple of non-core assets which are expected to boost its recent cash balance.
It may be noted that L&T' reported a net profit of Rs' 1,214 cr. for the April-June quarter,
36 per cent higher from Rs' 892 cr. reported in the corresponding quarter of previous fiscal.
Education Purpose only.
200DEMA @ 1348 looks Crucial.
Closing above (better two consecutive day) move to @ 1359 - 1378 - 1400 - 1424+