Larsen and Toubro a top pick: Parul Saini

Larsen and Toubro is a top pick, says Parul Saini, Executive Director, RBS Asia Securities.

Saini told CNBC-TV18, "We are quite positive on L&T and BHEL in our model portfolio. L&T is one of our top picks for 2012. In spite of the rally, I think the stock is pricing in a lot of the negatives. Valuations even post the rally are close to five year loans and even now people are essentially pricing in that you could actually see a decline in FY13 EPS for the stock, which doesn