Further, improved cash distributions along with lower asset intensity should help L&T get closer to its targeted ROE of 18% by FY26 from 12.2% in FY23.
Tata Communications, incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 46437.90 Crore) operating in Telecommunications sector.
Jubilant Foodworks, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 30870.86 Crore) operating in Tourism & Hospitality sector.
The brokerage revises its earnings accordingly and arrive at a target price of Rs 2,300 using a DCF-based valuation methodology implying a 21x multiple on FY25E EPS.
Glenmark Pharmaceuticals, incorporated in the year 1977, is a Mid Cap company (having a market cap of Rs 21501.21 Crore) operating in Pharmaceuticals sector.