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Oct 09, 2012, 05.40 PM IST
Shardul Kulkarni, Angel Broking is of the view that, Larsen and Toubro (L&T) has an important resistance of Rs 1650 on the upside. One can maintain long positions with a stop-loss of Rs 1585.
Shardul Kulkarni, Angel Broking is of the view that, Larsen and Toubro (L&T) has an important resistance of Rs 1650 on the upside. One can maintain long positions with a stop-loss of Rs 1585.
Kulkarni told CNBC-TV18, "L&T looks quite good. The only thing is that on the upside Rs 1,650 is an important resistance for the stock. Overall the chart structure suggests that Rs 1,650 if taken out in the next two trading sessions, stock may well head towards Rs 1,720-1,725." He further added, "Resistance of Rs 1,650 should be crossed and that too in two trading sessions. On the lower side support is at around Rs 1,590. Maintain long positions with the stop loss of Rs 1,585 that would be the recommendation." The company's trailing 12-month (TTM) EPS was at Rs 65.12 per share. (Jun, 2012). The stock's price-to-earnings (P/E) ratio was 25.01. The latest book value of the company is Rs 410.59 per share. At current value, the price-to-book value of the company was 3.97. The dividend yield of the company was 1.01%. Disclosure: We have positions in stocks discussed and have recommended them to our clients.
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