L&T has target of Rs 1665: Anand Rathi

Larsen and Toubro (L&T) has target of Rs 1665, says Amol Rao, Analyst, Anand Rathi.

Rao told CNBC-TV18, "At current levels, we believe that Larsen and Toubro (L&T) is fairly valued around Rs 1,665, which is our target price. I think any news on items like sale stake in assets like the Dhamra port or any road construction projects, which they managed to sale off or capital raising in Infrastructure Development Projects (IDPL) would act as triggers for the stock."
He further added, "We would be very closely monitoring the macroeconomic scenario. So we are quite open to upgrading our target price in L&T given any improvement in the near-term scenario."