Buy Larsen and Toubro (L&T) at Rs 1640, says Amit Gupta, Head- Derivatives, ICICI Direct.
Gupta told CNBC-TV18, "Recently quite aggressive longs have been formed in Larsen and Toubro (L&T). It has remained an outperformer; no doubt about this. I feel Rs 1570 was the breakout level in the starting of the month and at Rs 1730-1750 somewhere the stock may find some resistance. It may go into some long liquidation, come back to Rs 1640 and then again you should start buying this stock. I think it should remain outperformer in the coming months also."
Larsen's trailing 12-month (TTM) EPS was at Rs 65.12 per share. (Sep, 2012). The stock's price-to-earnings (P/E) ratio was 26.03. The latest book value of the company is Rs 410.59 per share. At current value, the price-to-book value of the company was 4.13. The dividend yield of the company was 0.97%.
Gupta told CNBC-TV18, "Recently quite aggressive longs have been formed in Larsen and Toubro (L&T). It has remained an outperformer; no doubt about this. I feel Rs 1570 was the breakout level in the starting of the month and at Rs 1730-1750 somewhere the stock may find some resistance. It may go into some long liquidation, come back to Rs 1640 and then again you should start buying this stock. I think it should remain outperformer in the coming months also."
Larsen's trailing 12-month (TTM) EPS was at Rs 65.12 per share. (Sep, 2012). The stock's price-to-earnings (P/E) ratio was 26.03. The latest book value of the company is Rs 410.59 per share. At current value, the price-to-book value of the company was 4.13. The dividend yield of the company was 0.97%.
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