Buy Larsen & Toubro, target price Rs 3,825: JM Financial

JM Financial has recommended buying Larsen & Toubro with a target price of Rs 3825 as the company reported significant growth with a total income of Rs 62655.85 crore and net profit of Rs 4112.81 crore in the latest quarter. L&T secured a major Rs 76 billion order from the Ministry of Defence for K9 Vajra-T artillery platforms.