Joshi positive on L&T

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Joshi positive on L&T

Sharmila Joshi of Asit C Mehta is positive on Larsen and Toubro, L&T.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See what other Experts & Brokerages are saying about Larsen See messages about Larsen Larsen BSE | NSE 28/05/12 Are Mutual Funds betting on Larsen?

Sharmila Joshi of Asit C Mehta is positive on Larsen and Toubro , L&T.

Joshi told CNBC-TV18, "I think one can see more upside in L&T from current levels. Today market was also partly excited because of the fact that one of the newspapers reported that they would be listing eight subsidiaries over the next eight years, so that indicates a huge value unlock in L&T. We have seen other companies, which have gone the similar route, you had Mahindra with Tech Mahindra, so similarly L&T too have a Infotech arm, they have a finance arm, they have infrastructure and development arm. So these are the three, which are immediately insight and various other subsidiaries that would get listed. So that kind of added to the positive surprise along with the good numbers that we have had."

She further added, "What I really see is that lot of people are buying into capital good space largely because at this level you are comfortable buying a stock where you see earnings visibility quite strong over the next couple of years. Also you do have another couple of positives if they get that defence status from the government which could come as early as first week of June which could give some of that big corporates in India like a status to supply defence equipment to India, so that could be a good trigger. Also the fact that the wary industry that they are in, there is so much more to happen that you see that all these companies typically have very good order book. So overall I am positive on L&T. It is a stock that one should stay with it."