See 5-6% upside in L&T: Amol Rao

Amol Rao, Analyst at Anand Rathi Institutional Equities told CNBC-TV18, "We are seeing slight improvement on the ground especially in the engineering and construction space where Larsen and Toubro (L&T) is the foremost player in India. We are exceptionally positive about the company’s foray abroad and we feel that the company could declare something in the range of Rs 77,000 to Rs 82,000 crore of order booking on the back of this business in FY14 so we expect around that number."

He further added, "As far as our target price is concerned, we feel in the range of Rs 1685 to Rs 1690 is where the company conservatively should be valued at current levels which leaves an upside of 5 to 6 percent from the current market price."