L&T needs to announce 54 billion rupees projects: Jefferies
Reuters Market Eye - Jefferies says Larsen & Toubro needs to announce additional projects worth 54 billion rupees this month to meet expected order flow of 180 billion rupees for the third-quarter of 2013.
The investment bank says that 15 percent on year order flow growth is "required to sustain valuations".
"We maintain that outlook for FY14E remains difficult and upside will be capped," Jefferies said in a note.
Shares of Larsen & Toubro were down 0.8 percent at 2:41 p.m.
- Tweet this
- Share this
- Digg this
Trending On Reuters
Finance Minister Arun Jaitley on Saturday unveiled a budget that aims to ramp up growth, aided by a slowed pace of fiscal deficit cuts and a raft of tax measures to put private domestic and foreign capital to work. Read | Full Coverage