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Sep 24, 2012, 11.50 AM IST

Goldman downgrades Larsen & Toubro to 'neutral'

Goldman Sachs downgraded India's Larsen & Toubro to "neutral" from "buy", saying the stock was trading above historical median valuations even as the macro economic environment remained "tough."

Source: Reuters
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Goldman downgrades Larsen & Toubro to 'neutral'
Goldman Sachs downgraded India's Larsen & Toubro to "neutral" from "buy", saying the stock was trading above historical median valuations even as the macro economic environment remained "tough."


However, Goldman said it continues to be a strong believer in the long-term growth potential for L&T.


L&T shares were down 0.6 percent as of 9.19 a.m.


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