L&T, Indraprastha Gas can see smart rally: Baliga

Ambareesh Baliga, Independent Analyst is of the view that Larsen & Toubro can touch Rs 1850-1900 and Indraprastha Gas can give 30% returns over the next two-three years.

Baliga told CNBC-TV18, “Larsen & Toubro (L&T) has been my favourite for quite a while. Looking at the sort of order flows, which is quite robust. I see L&T possibly still managing to hold on to the margins and I see levels of about Rs 1,850-1,900 for L&T.
He further added, “Indraprastha Gas had the regulatory issues but it has overcome that. The way I see it is with about 30-35 percent growth happening over the next foreseeable 2-3 years, most of the vehicles are still converting to CNG. So, this is one stock which can possibly give you about 30 percent returns year-on-year (YoY) over the next two-three years.”