Rajen Shah`s view on Larsen & Toubro

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Rajen Shah`s view on Larsen & Toubro

Rajen Shah, CIO, Angel Broking shares his view on Larsen & Toubro (L&T).

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Rajen Shah See what other Experts & Brokerages are saying about Larsen See messages about Larsen

Rajen Shah, CIO, Angel Broking shares his view on Larsen & Toubro ( L&T ).

Shah told CNBC-TV18, "Most of the infra stocks have run up anywhere between 20- 40%. Even a company like L&T has moved up from Rs 950 to almost Rs 1350. So, its almost 40% move in a matter of a month. So, I think now they are going to take a breather, may be correct a bit. So, as I said earlier not a time to get into the market or jump into buying these counters at this point of time. Let's wait for a correction. Correction will certainly set in and that would be the time to look at these companies."

The company's trailing 12-month (TTM) EPS was at Rs 65.12 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 20.79. The latest book value of the company is Rs 350.53 per share. At current value, the price-to-book value of the company was 3.86. The dividend yield of the company was 1.07%.