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
Anticipating data out on Friday will show weakening economic growth, the finance ministry will argue for an interest rate cut, but bankers and company executives say the key to recovery lies in how fast Prime Minister Narendra Modi acts on reforms. Full Article
Disputes over land for industry on the rise in India, angering locals - charities Full Article