SP Tulsian cautious on L&T

Tulsian told CNBC-TV18, “I have my cautious stand on the capital goods sector including L&T because generally if you see the engineering and construction space remains dull again because of the monsoon which incidentally coincides with the off-take of the cement and steel also.”

He further added, “I will keep my cautious stance, but it is very difficult because the kind of built up which we have been seeing in L&T the stock is not correcting below Rs 1600. The moment we see it falling below Rs 1600 again the buying interest comes back and this stock is seen to be in a strong trading grip. So, probably one may have to keep positive surprises from the results though I am not very optimistic from the numbers from the entire capital goods sector including L&T.”