Long Term Buy Call For L&T

Long Term Buy Call For L&TTechnical analyst Rajesh Tambe of Sunchan Securities has maintained 'buy' rating on Larsen & Toubro Limited (L&T) stock to attain a long-term target.

Today, the stock of the company opened at Rs 1530 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2212.50 and a low of Rs 1484.74 on BSE.

Current EPS & P/E ratio stood at 57.63 and 26.82respectively.

Larsen & Toubro (L&T) has registered a PAT of Rs 8,405.30 million for the three month period ended Dec 2010 as against Rs 7,588.20 million for the same period ended Dec 2009.

Company's total income jumped 39.16% to Rs 116,602.60 million for Oct-Dec period ended Dec 2010 as against Rs 83,792.50 million during Oct-Dec 2009.

Engineering and construction major anticipates the pick-up of investment impetus in the financial system to match up with the mop up of its growth projects by the next 1-2 years.

It is well placed to maintain revenue growth drive in the medium term given its outstanding execution capacities, attendance in different segments of the financial system and a strong order book.

During the last month, the company has pocketed an order worth Rs 11 billion from Gujarat State Electricity Corporation (GSECL), a company of Gujarat administration.