MARKET EYE-Goldman Sachs upgrades India's L&T; shares gain

Wed Mar 6, 2013 9:51am IST

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Stocks

   

* Shares in India's Larsen & Toubro Ltd gain 1.7
percent after Goldman Sachs upgrades the stock to "buy" from
"neutral".
* Goldman cites cheaper valuations after L&T's recent
under-performance against the broader index and the prospect of
stable revenue growth over the medium term.
* The investment bank also notes the government is expected to
fast track an estimated $30 billion worth of infrastructure
projects in fiscal 2013/14, while also pointing to other
supportive factors such as an expected lower cost of financing.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
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