Prefer L&T, says Dhiraj Agarwal

One can prefer Larsen and Toubro (L&T) in the capital goods space, says Dhiraj Agarwal, Standard Chartered  Securities.

Agarwal told CNBC-TV18, "The capital goods reflect what is happening in the economy at this point of time which is a  slowdown in the investment cycle. L&T is relatively better placed as compared to the entire sector at this point of time,  so that is one stock people tend to own as one exposure to capital goods space at this point of time where it is difficult  to find buy ideas. You have to be light on capital goods, there is no doubt about that and the only stock which is  perhaps worth owning in that space is L&T."
At 10:48 hrs Larsen and Toubro was quoting at Rs 1,395.65, up Rs 30.75, or 2.25%. It has touched an intraday high of  Rs 1,404 and an intraday low of Rs 1,370.
The share touched its 52-week high Rs 1,719.50 and 52-week low Rs 1,185 on 29 October, 2012 and 04 June, 2012,  respectively. Currently, it is trading 18.83% below its 52-week high and 17.78% above its 52-week low. Market  capitalisation stands at Rs 85,886.34 crore.
The company's trailing 12-month (TTM) EPS was at Rs 81.95 per share. (Dec, 2012). The stock's price-to-earnings  (P/E) ratio was 17.03. The latest book value of the company is Rs 409.54 per share. At current value, the price-to-book  value of the company was 3.41. The dividend yield of the company was 1.18%.