Larsen and Toubro (L&T) has target of Rs 1330, says Lokesh Garg, Kotak Institutional Equities.
Garg told CNBC-TV18, "I think operational performance of Larsen and Toubro was reasonably strong in terms of execution, margins and order inflows as well. Given that the environment has been fairly challenging over the last three to six months, we believe certainly this is commendable. The concerns are little bit on what is the likely performance for the company in the next three to six quarters."
He further added, "We haven't changed earnings that much actually but clearly in operational sense although there are changes originating from other income and all that. Our target price has changed to Rs 1330 now versus Rs 1175 that we had earlier."
