Irani told CNBC-TV18, "L&T numbers were definitely much better than expectations. I think the market has taken the margins well and L&T, BHEL, Reliance were big gainers today and have led the markets. L&T is a stock, which I personally feel if its there in the portfolio I would continue to stay with it. Even if the numbers had slightly disappointed on the share prices would have comedown I would have stick to it because I think L&T should continue to do well at least for the next couple of years or three years. So L&T as a stock if it was in a portfolio I would not even bother to be tempted to sell at any price. I would continue to hold on to it."
He further added, "Valuation wise even after the numbers they have announced today looks a bit expensive. But when you are investing in a company, waiting for a 4-6% correction wouldn't be the best thing to do because when you are buying a stock like L&T one should understand it is a stock which is going to remain in a portfolio for quite sometime, its going to give steady returns for two-three years."
