Politics

Supporters holding flags of ruling Congress party leave after attending an election campaign rally by Rahul Gandhi at Hardoi district in Uttar Pradesh January 28, 2012. REUTERS/Adnan Abidi/Files

Weakened Congress wondering if early elections will help

The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term.  Full Article 

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Notch Above 'Junk'

Notch Above 'Junk'

In blow for India, S&P affirms negative rating outlook.  Full Article 

U.S. Economy

U.S. Economy

U.S. job market gains could lead Fed to taper QE3 early  Full Article 

Prized Stake

Prized Stake

All eyes on Vodafone's Colao for signs on Verizon.  Full Article 

Gold Market

Gold Market

Column - China, India demand not enough to save gold: Clyde Russell.  Full Article 

Buy, Sell or Hold?

Buy, Sell or Hold?

Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade.  Full Coverage 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage 

MARKET EYE-India's L&T falls on brokerage downgrades

Related Topics

Stocks

   
Chinese Premier Li Keqiang waves upon his arrival at the airport in New Delhi May 19, 2013. Li on Sunday arrived in New Delhi for a three-day state visit. REUTERS/Adnan Abidi

Li Keqiang in India

Chinese Premier Li Keqiang on a three-day state visit.  Slideshow 

» Click here for more slideshows

Tue Jan 8, 2013 11:13am IST 

* Larsen & Toubro Ltd shares are down 1.7 percent
after Citigroup and Barclays downgraded the engineering
conglomerate on concerns over order cancellations and weak
investment cycle.    
* Citi downgraded L&T to 'neutral' from 'buy' and cut its target
price to 1,732 rupees from 1,855 rupees, citing cancellations in
the second quarter of fiscal 2013, slow-moving orders, as well
as weaker domestic economic growth. 
* Barclays downgraded L&T to 'equal-weight' from 'overweight'
and cut target price to 1,750 rupees from 1,851 rupees.
* The bank says it expects L&T to meet its fiscal 2013 guidance
but cautions that weakness in the investment cycle in fiscal
2014 will post a risk to order estimates.

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.reuters.com@reuters.net)
India Markets
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.