CLSA uprades L&T on govt policy, rate cut hopes

MUMBAI Fri Jan 25, 2013 11:13am IST

Labourers work inside a steel factory on the outskirts of Agartala, April 9, 2009. REUTERS/Jayanta Dey/Files

Labourers work inside a steel factory on the outskirts of Agartala, April 9, 2009.

Credit: Reuters/Jayanta Dey/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - CLSA upgraded Larsen & Toubro(LART.NS) to "outperform" from "underperform", citing favourable policies from the government and expected interest cuts would be reflected in the company's earnings by the second half of fiscal 2013/14.

The upgrade came despite what the brokerage called "a mixed bag" from October-December earnings reported on Thursday, although with "more positives than negatives," including "a creditable job" in orderbook growth but "weak" operating performance.

At 11:12 a.m, L&T shares were trading at 1596 rupees, up 0.7 percent.

(Reporting by Abhishek Vishnoi; Editing by Sunil Nair)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

TCS Results

TCS Results

TCS net profit rises 51.5 percent, sees stronger sales growth.  Full Article | Quote 

Google Results

Google Results

Google Q1 revenue misses Wall Street targets.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Sparking Boom

Sparking Boom

BlackBerry: the crash that launched 1,000 start-ups.  Video 

Telecom Sector

Telecom Sector

RComm to raise mobile call tariff by up to 20 percent  Full Article 

Chinese Economy

Chinese Economy

China economic growth slows to 18-month low in first quarter  Full Article 

Breakingviews

Breakingviews

Diageo throws money at Indian empire-building  Full Article 

Reuters India Mobile

Reuters India Mobile

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