Sunday, October 26, 2014

Buy Larsen and Toubro , says Parul J. Saini, Executive Director at RBS Asia Securities.

Saini told CNBC-TV18, "Larsen and Toubro (L&T) is on our buy list and that has been disappointing for us. One positive that I would highlight that the company has continue to reiterate its order inflow guidance for this year although if you look at most sell side estimates even including our own are for order inflow decline this year. So if L&T is able to post orders that are actually up or flat year over year for the full fiscal I think that could be positive catalyst for the stock."
He further added, "The thing I would highlight is that number of mega project approvals came through on November 18th and the next cabinet meeting for next leg of project approvals is on December 18th, so you could see some more big ticket project approvals come through which should bolster sentiment on capital goods names like L&T."