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REFILE-BUZZ-India's L&T hits 7-mth high on upbeat Q4, expects orders to rise 15 pct
May 26, 2016 / 4:16 AM / a year ago

REFILE-BUZZ-India's L&T hits 7-mth high on upbeat Q4, expects orders to rise 15 pct

(Adds dropped “BUZZ” tag in headline)

** Larsen & Toubro Ltd jumps as much as 12 pct to its highest since October 2015

** L&T, viewed as an indicator of the health of Asia’s third-biggest economy, posts an upbeat 19 pct rise in Q4 profit

** Co expects orders to increase 15 pct in the year to March 2017 and revenue up by 12-15 pct

** Religare expects these orders to come in from the defence and power sectors, while inflows from the infra and hydrocarbon segments are likely to sustain

** Edelweiss Securities believes L&T is geared to record high growth rates and capable of surprising the Street positively due to improving ground conditions and operational efficiencies

** Edelweiss Securities maintains “buy” rating, with a PT of 1,750 rupees (RM: aastha.agnihotri.thomsonreuters.com@reuters.net)

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