|Chennai||Rs. 27770.00 (-0.14%)|
|Mumbai||Rs. 29200.00 (2.31%)|
|Delhi||Rs. 27900.00 (-0.36%)|
|Kolkata||Rs. 28270.00 (1%)|
|Kerala||Rs. 27050.00 (-0.37%)|
|Bangalore||Rs. 27550.00 (1.66%)|
|Hyderabad||Rs. 27770.00 (-0.14%)|
Credit Suisse downgrades Larsen & Toubro
Over 40 percent of L&T's orders are from the Middle East and real estate segments which are "prone to execution delays" and would earn lower margin.
It would be difficult for L&T to sustain this growth momentum on its historic high inflows, Credit Suisse said in a note.
Credit Suisse believes L&T is expensive at 17.5 times FY14 parent EPS for 10 percent EPS CAGR (FY12-14E) and also does not expect any material improvement in return on equity.
At 11:25 p.m., shares were up 0.81 percent at 1,679 rupees.