Sharekhan has maintained its hold rating on Larsen & Toubro (L&T), with price target of Rs 1533, in its report dated July 16, 2009.

"At the current market price, Larsen & Toubro (L&T) is trading at 17.4x its FY2010E consolidated earnings. The stock has seen a significant run-up post the election results on the back of improved business environment. We feel the stock performance would largely depend on the capability of the company to bag orders going forward. At the moment we our maintaining our Hold on the stock. with a revised price target of Rs 1,533," says Sharekhan's report.

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