Technical Analyst Husseini Wadharia of Techno Shares has maintained 'buy' rating on Larsen & Toubro Limited (L&T) stock to achieve a target above Rs 1585 in a period of one week.

According to analyst, investors can buy the stock with a stop loss of Rs 1545.

Today (May 11), the shares of the company opened at Rs 1550 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1800 and a low of Rs 951 on BSE.

Current EPS & P/E ratio stood at 49.48 and 31.49 respectively.

In a declaration, Larsen & Toubro Limited announced that it has pocketed a deal worth Rs 850 crore from Public Works Authority, Qatar (ASHGHAL).

The scope of the order, which is said to be operational by 2012, comprises design, procurance, supply, maintenance, building, examining and the commissioning of the Doha South Sewage Treatment Works, Phase II expansion.

The company, on May 04, entered into a JV pact with Howden with the aim to plan, produce, engineer and supply axial fans as well as air pre-heaters to therman power facilities across the country.

The JV between L&T & Howden will jointly make an investment of Rs 1100 crore to establish the industrial plant and related infrastructure.

The plant will be located in Gujarat and it will start its working by the coming year (2011).

L&T's wholly-owned arm L&T Finance is eyeing to achieve growth of around 30-40% in 2010-11.