Buy Larsen and Toubro (L&T) around Rs 1000-1100, says Manoj Singla, MD & Co- Head Product, Religare Capital Markets Ltd.
Singla told CNBC-TV18, "On Larsen and Toubro (L&T), the numbers expectations are pretty low, almost everybody on the street expects them to come and cut their guidance further. I don't think numbers are expected to be that great. So expectations are on the lower side. Structurally on a 9-12 months view the stock looks pretty cheap at Rs 1000. It came in a smart rally from there. But if it was to correct back to around Rs 1000-1100 I would be a buyer at those levels."
The company's trailing 12-month (TTM) EPS was at Rs 65.12 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 19.12. The latest book value of the company is Rs 350.68 per share. At current value, the price-to-book value of the company was 3.55. The dividend yield of the company was 1.16%.
