May 29, 2018 / 4:07 AM / 23 days ago

BUZZ-India's Larsen & Toubro rises after qtrly results

** Larsen & Toubro Ltd (L&T) rises as much as 3.4 pct to 1,422.50 rupees, its highest in nearly four weeks

** Industrial group’s qtrly net profit rose 4.7 pct to 31.67 bln rupees ($469.92 mln)

** Jefferies believes over next 12 months L&T will benefit from macro tailwinds apart from company-specific improvements; keeps “buy” rating with TP of 1,925 rupees

** Believe domestic execution, which is better margin vs international, will lead to margins sustaining with some upward bias - Jefferies

** Stock posts biggest intraday pct gain since Feb 26

** Stock clocks sixth straight session of gains, up 9.4 pct this year as of Monday’s close

** Over 1.8 mln shares traded vs 30-day avg of 1.7 mln shares

$1 = 67.3950 Indian rupees

0 : 0
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