Hold Larsen and Toubro (L&T): PN Vijay

Hold Larsen and Toubro (L&T), says PN Vijay, Portfolio Manager, askpnvijay.com.

 Vijay told CNBC-TV18, "Larsen and Toubro (L&T) is a hold for now because interestingly the stock didn’t go up so much in the recent rally we had. People had some sense about the difficult economic environment. What’s happening in L&T is typical of the Indian economy – in the sense that order cancellations, difficultly in execution, but commodity cost coming down leading to slightly decent stable margins and so on."
He further added, "On a long-term basis L&T is a core investment in all portfolios I suppose, but on a short-term it is a hold because many things have to be laid to rest for example GMR, GVR orders and so on. So, there is no need to run into L&T, but based on these earnings I would not sell the stock. I would continue to hold it if I had it in my portfolio."