May 17, 2012, 03.05 PM | Source: Reuters
SENSEX-NIFTY-LARSEN-TOUBRO-BAJAJ-AUTO:Sensex erases gains; L&T, Bajaj fall
The Sensex was last trading flat at 16,029.09 points, while the Nifty was also virtually unchanged at 4,857.00 points.
L&T shares dropped 3.5 percent. Nomura downgraded L&T to 'reduce' from 'buy' and nearly halved its target price to 992 rupees from 1,691 rupees citing concern about orderbooks.
(Reporting by Abhishek Vishnoi and Manoj Dharra; Editing by Rafael Nam)